Have you ever wondered if your spouse is hiding assets? This is a troublesome problem that many couples face, especially those that are headed for a divorce. Trust issues are a common reason why many marriages end in divorce, and when it comes to trust issues about money, the divorce papers can't be signed fast enough. So, how can you tell if your spouse is hiding assets?
Has your spouse been overpaying the credit card bills lately? For example, does your card have a $500 balance but your spouse is paying $5,000? That means your spouse just created an account with their name on it that now has $4,500 in credit on it.
Have unfamiliar credit card or bank statements arrived in the mail? If you don't recognize the names of the banks or lending companies, then it's likely your spouse has been hiding some form of asset from you with these companies.
A spouse who makes large purchases and then underreports the value is hiding assets. This is typically done by purchasing artwork, signed memorabilia, cars, boats and other large ticket items.
Those who like to hide assets might do so by paying off fake debts. What are fake debts? Fake debts are when your spouse writes a check to a friend or family member for money they 'owe' them but that person then returns the money at a later time.
Trying to find hidden assets in a divorce can be very difficult. Follow the steps outlined in this post to discover any hidden assets. It won't be easy, but it will be worth the energy if you discover assets being hidden from you.