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Is your spouse concealing assets?

Once the trust in a marriage goes, divorce often follows, and if you and your spouse are among the many Ohioans who believe your marriage may soon end, you may start preparing for life without one another.  While some marriages dissolve because of allegations of infidelity, others do so because of financial issues and disagreements. If the trust in your marriage is gone, you may have suspicions about your spouse hiding property from you, and you may be wise to do so.

Sometimes, per AOL.com, husbands and wives who believe their marriages are ending will take strides to set themselves up well financially for when the marriage officially ends. If your spouse is among those doing so, he or she may make efforts slowly, and over time, to hide assets from you so that they do not ultimately factor in during asset division and divorce proceedings. For example, he or she may start selling or otherwise unloading pricy belongings to a close friend or family member with an existing agreement that this person will transfer them back, post-divorce.

Your spouse may also start making small deductions from shared bank accounts, or he or she may move money to a separate financial institution where accounts are only under his or her name. He or she may also, for example, start taking small amounts of “cash back” on purchases at grocery stores or big-box retailers with the assumption that you will not notice the money removed.

Your spouse may rely on additional methods to avoid having to split assets with you, such as delaying raises or promotions until after your divorce goes through. This may prove particularly likely if your husband or wife has a strong relationship with his or her employer. If your spouse works for his or herself, he or she may delay invoicing clients for the same reason.

This information about methods spouses use to hide assets seeks to inform you, but it is not a replacement for legal guidance.

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