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Methods your spouse may use to hide assets

Losing trust in the person you planned to spend your entire life alongside is always difficult, but if you also suspect that this person is working to stack the deck against you, it can prove even more troublesome. Unfortunately, many spouses who suspect that their marriages are nearing their final days behave less than honestly when it comes to finances, and many use similar tactics and methods in doing so.

If you are heading for a divorce and you suspect your husband or wife may be concealing assets from you in an attempt to come out on top during divorce proceedings, you may be wise to investigate further. Know that your spouse may try to do so with the following methods:

Unloading assets to friends or close family members

If your spouse suddenly begins unloading valuable art, jewelry, vehicles or what have you and selling or giving them to a close friend or family member, this ought to raise a red flag. Why? He or she may be doing so with the understanding that that friend or family member will ultimately return said valuables once your divorce finalizes, and once you are no longer part of the equation.

Hiding behind his or her business or job

Your spouse may also utilize his or her business or occupation to shield assets from you ahead of divorce. For example, say your spouse owns his or her own business. He or she might try to employ any number of different tactics, but be on alert for the possibility of him or her creating fake expenses in an effort to suggest that the business is struggling or unsuccessful. He or she may also intentionally wait to invoice clients for big jobs until after the divorce finalizes, so as not to have to split the earnings with you. If your spouse is especially friendly with his or her employer, your husband or wife may also ask the boss to hold off on issuing raises or promotions until after your divorce goes through.

Often, spouses who suspect their partners are being dishonest are wise to be distrustful. If you find yourself in this group, do your research to make sure you do not wind up holding the short end of the stick after divorce.

 

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