You trust your spouse more than anyone, especially regarding confidential marital matters like finances. However, it is not uncommon for a spouse to commit financial infidelity. They lie about how much money they earn and how they spend it.
Everything your spouse earned and purchased during your marriage is subject to the Connecticut equitable marital division process. Spouses may conceal assets to gain an unfair advantage during property division proceedings. If you suspect your spouse is hiding substantial assets from you, you should recognize the signs and uncover the hidden assets before finalizing the divorce settlement agreement.
Warning signs your spouse is hiding assets
If your spouse is particularly knowledgeable about financial tools, they will know how to hide marital assets in bank accounts, real estate and investments. They might even purchase valuable items that you appreciate, like jewelry and artwork, without telling you. Below are some warning signs that they are attempting to conceal certain marital assets:
- Substantial and sudden changes in your spouse’s spending activity
- Discrepancies in bank statements and financial records
- Missing assets and documentation
- Unscrupulous business behavior and practices
- Unusual real estate transactions or changes in ownership of marital properties
- Sudden transfers of marital assets to trusts
- Dissipation of assets
- Password and address changes
- New accounts and unexpected loans
- Payments and bonuses are not coming as scheduled
Sometimes, your spouse might act defensive and secretive when you ask about specific assets, which is also questionable behavior. It is your right to have complete access to all the relevant information concerning your marital assets.
Did you notice any of the behavior above?
If you believe your spouse is hiding assets from you, you should consult with someone who can investigate your concerns and protect your legal rights. An experienced attorney can use the discovery process to locate suddenly missing assets by identifying holes in your spouse’s sworn disclosures. In cases with high-stakes assets, you may need the help of forensic accountants.
Concealing assets is unethical and unlawful in Connecticut. Transparency and honesty are vital in guaranteeing an equitable division.