When you file for divorce, you have a lot of things to consider and work through. One part that is often difficult for couples is the process of dividing their assets.
When you first get started with asset division, you must list all your assets and debts. The same is true for your spouse. The only way to ensure that assets are divided properly and fairly is for both parties to list everything. Unfortunately, not everyone is honest, and your spouse may try to hide assets. Some of the signs that you may be dealing with someone who is hiding assets can be found here.
Statements from accounts you know nothing about
One sign your spouse may be trying to hide assets from you and your divorce is if you begin seeing statements come in the mail with just your spouse’s name and from banks or other financial institutions you don’t know about.
While a lot of statements are delivered digitally, you can still watch your mailbox for these signs, too. It’s also smart to look at ATM receipts if you find them and see if they are from banks that you have never heard of.
Overpayments on credit cards
Take time to look at your credit card statements to see if your spouse is overpaying. For example, if your card only has a balance of $200, but your spouse pays $1800 on it, it means he has created a new bank account with money to spend. This is also something that won’t show up unless you are looking for it.
Protecting yourself during asset division in a divorce
If you want to protect yourself during the asset division process in your divorce, you have to know if your spouse is hiding assets. Look for the signs above and be sure to report any inconsistencies you find.