When going through the divorce process, it is unfortunately possible for your spouse to make things even more complicated by attempting to hide assets.
Why do people hide assets in the first place? Most importantly, how can you tell where your spouse might be hiding them?
Active attempts at asset hiding
First, assets are often hidden in active ways. This means the person in question is actively attempting to hide the existence of an income stream or an asset in its entirety.
To make sure your spouse is not actively hiding assets, you want to keep close tabs on their behavior regarding financial matters. For example, they may become extra cagey when discussing finances. They could refuse to show you even the smallest pieces of information without an affidavit.
Alteration of spending behavior
They might also change their spending behaviors. This could manifest in extreme penny-pinching and saving to an unusual degree, or extreme spending on luxury items that they should not be able to afford or would not want to buy under normal circumstances.
This could show that they are attempting to channel the assets from one hidden source into another form, i.e. the purchase of items that they may then later intend to sell.
Passive asset hiding
Forbes discusses some unique hidden assets, too, known as passively hidden assets. These assets are ones that a person does not have to actively hide, as they are likely forgotten or not considered assets in the first place. This includes things like country club memberships or airline mileage.
Of course, any attempt at hiding assets is illegal. Thus, it is important to take action after noticing your spouse trying to do so.
