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3 signs your future ex is hiding assets

On Behalf of | Jan 10, 2024 | Divorce

Divorce, a challenging journey in itself, can become even more complex when one spouse conceals assets.

The financial aspects of a divorce in Pennsylvania require meticulous attention, and it is important to be vigilant for signs of asset concealment.

1. Unexplained discrepancies in financial statements

One clear sign that something may be amiss is if you notice unexplained discrepancies in financial statements. If your spouse’s income appears inconsistent with their lifestyle or if there are sudden changes in spending habits, it could be an indication of hidden assets. Pay close attention to bank statements, tax returns and any financial documents that may reveal irregularities.

2. Complex financial transactions

Another red flag is the involvement in complex financial transactions. If your spouse engages in intricate dealings, such as offshore investments, shell companies or transferring assets to third parties, it may be an attempt to keep assets out of the divorce proceedings. Keep a watchful eye on any transactions that seem unnecessarily convoluted or lack a clear purpose.

3. Concealed property ownership

Hidden property ownership can be a subtle yet significant sign of asset concealment. If your spouse suddenly acquires property without your knowledge or uses the names of friends or family members to hold titles, it might be an effort to keep these assets off the radar during divorce proceedings. Property records and deeds should be thoroughly examined to ensure transparency.

After saying your vows, you likely planned on your marriage lasting. With a 2.4 per 1,000 population divorce rate in 2021, you are not alone in ending a marriage. Staying on top of finances during the process can help ensure a more secure post-divorce life.