Divorce is complicated, especially when there are considerable assets at stake. You have to examine your financial situation closely, and not just rely on the surface details. High-net-worth divorces often involve more than just splitting bank accounts and property, they can also hide valuable assets. If your spouse isn’t being upfront, you could end up with much less than you’re entitled to.
It’s important to understand why a spouse may hide assets, so you can protect your financial interests.
Why would your spouse hide assets?
Divorce can bring out the worst in people. When emotions run high and the stakes are even higher, some spouses may try to hide money or property to keep it out of the divorce settlement. Whether they believe they earned more and deserve to keep it or want to punish you by undervaluing assets, they may try to conceal income, devalue a business or stash assets in someone else’s name. No matter their reason, you have the right to see the full financial picture of your marriage.
Now that you know why your spouse might hide assets, it’s time to identify the tactics they may use to conceal them.
Watch for the most common tricks
Hidden assets don’t always mean off-the-books income or foreign bank accounts, though those happen too. Your spouse might delay bonuses, manipulate business expenses or suddenly loan money to a friend or relative. They might buy cryptocurrency and hope you never find the account. Or, they could start hoarding valuable items such as watches, artwork, collectibles and claim they’re worth less than they are. If you don’t stay vigilant, you could miss these hidden assets.
Recognizing these tricks is the first step. Stay alert. Your spouse might be hiding something bigger.
Spot the red flags early
Now that you’re aware of the tactics your spouse might use to hide assets, it’s crucial to recognize the subtle indicators that something isn’t right. Spotting these early can give you a head start in protecting your financial interests.
Watch for these common signs that your spouse may be hiding assets:
- Pay attention to any secretive behavior: Look out for sudden changes in account access or password protection
- Look for newly opened accounts: Be alert to unfamiliar bank or credit accounts opened without discussion
- Question sudden business losses: Scrutinize unexpected claims of poor business performance
- Take note of personal loans: Track money transfers to friends or relatives with no clear repayment terms
- Notice blocked access to records: Take action if you’re shut out of shared financial documents or files
- Track unusual purchases: Look out for unexplained spending on art, jewelry or collectibles
- Compare income spending: Question a lifestyle that doesn’t match reported earnings
If these signs sound familiar, it’s time to take the next step, because recognizing the red flags is only the beginning.
While there’s no guarantee that any of these signs would confirm that your spouse is secretly keeping assets undeclared in your divorce, you still might want to get help from a professional to better understand your situation.
Take action to uncover what’s yours
You don’t have to do this one alone. In high-asset divorces, forensic accountants may be able to trace hidden money, value businesses and uncover accounts your spouse hopes you won’t find. A seasoned attorney may use legal tools like subpoenas to force full financial disclosure. In Bergen County, the Superior Court gives you the legal power to demand a thorough investigation.
Once you uncover what’s rightfully yours, don’t wait. Protect your assets now and shut the door on any surprises that could cost you later.
