Is Your Spouse Hiding Assets From You?

By reviewing your bank or investment account statements, you can see the deposits and withdrawals that have been made in your account. You might see significant monetary transactions that appear odd to you. This could be grounds for you to probe your spouse or even the financial institution for more information. This is especially the case if you find that your spouse has been taking cash withdrawals through an ATM. Smaller withdrawals might not seem like much but they can add up, prompting you to question your spouse as to their use of funds.

Relatedly, it could be a good idea to review your credit report to check for any activity that might seem abnormal. You might find that your spouse has opened up a credit card in both of your names but is the only one who is using that credit card. If that happens, you could become liable for those debts absent a finding of fraud on your spouse’s part.

Often times, when someone establishes a family business such as a limited liability company, part of the business documents include a schedule of assets and also a schedule of transfers that have been made since the company has been formed. Business documents also commonly contain information on who holds a stake (e.g. membership units, shares) in the company. A red flag would be for some of your jointly owned assets to have been placed into a business in which you have no control or ownership. You also might find that the business is the owner of certain properties that you never knew existed.

Also, you might want to take a closer look at your spouse’s relationships with business partners. Specifically, a shady spouse might use their business partners to help them conceal assets or keep you out of the loop on certain things that affect your financial interests.

If you suspect that your spouse has concealed assets from you, then in your divorce proceedings, you could have your attorney question your spouse under oath as to the nature of those assets. If your spouse is subject to deposition and has lied about the nature of their assets, then they could face perjury charges among other consequences.

Related posts:

Its been some time since I wrote the Kubernetes Resource Management Deep dive. In this post I wanted to reduce Kubernetes to it very bare bones ignoring all the scaffolding introduced by various…

Can executive presence be improved through coaching? How? One can certainly improve one’s executive presence through executive coaching. To put it simply, our executive presence is what people are…

As a practicing psychologist I work with folks regularly surrounding issues of depression. Depression is the most common and the most costly of the mental health disorders, and even if an individual…