Law Office of Bradley R. Tengler, P.C.

3 signs your spouse may be hiding assets

One good thing about divorce is that it does not last forever. Eventually, you will have the opportunity to begin a new life free from whatever hardship caused you to choose to end your marriage. Still, you want to have a solid financial foundation upon which to build. 

Illinois law determines which percentage of marital assets each spouse receives after divorce. Pursuant to state law, you should receive an equitable share. Unfortunately, though, to try to keep more than his or her fair share, your soon-to-be ex-spouse may try to hide assets from you. Here are three signs that your partner may be engaging in this type of deception: 

1. Financial secrecy 

In any marriage, there is nothing inherently wrong with splitting responsibilities. Even if your spouse regularly takes care of finances, he or she should not be secretive. On the contrary, your partner should be open and honest with you about assets, income and debts. If your spouse deletes financial data, hides monthly statements or closes accounts, he or she may not be behaving ethically. 

2. Excessive control 

In successful marriages, each spouse has a say in how to use marital wealth. As such, if your spouse refuses to consider your input or respect your wishes or otherwise exercises too much control over financial matters, you may have a problem. Furthermore, if your spouse opens a safe-deposit box or independent accounts, he or she may be placing assets out of your reach. 

3. New expenses 

Even if they fluctuate a bit, your monthly expenditures are probably fairly predictable. If your spouse starts to spend more money or makes sudden loans before your divorce, you may need to ask a forensic accountant or financial investigator to determine if your spouse is hiding assets. 

There are serious consequences for hiding assets before and during divorce proceedings. Still, bold spouses may try to receive more than their fair share by doing exactly that. By understanding when to ask questions, you increase your chances of finding hidden assets and protecting your financial future.

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