Signs Your Spouse May Be Hiding Money Before a Wisconsin Divorce

 Posted on June 20, 2022 in Criminal Law

There can be many different warning signs that your marriage is in trouble. While disagreements over money and finances are common in every marriage, they can come to a head before a divorce. In some cases, a spouse may take steps to hide income, conceal purchases, or take other questionable and secret financial steps. Whether it is to avoid the scrutiny of their spouse or to hide assets from division during an anticipated divorce, there are signs you can look for if you suspect your spouse is hiding money.

Five Financial Signs to Watch in a Marriage

Taken individually, these steps may not arouse suspicion, but if you see more than one sign or if your marriage is already headed for a divorce, it may be time to act. Contact a divorce attorney who can help you discuss your next steps with a financial expert.

• Your spouse hides the mail or you notice bank and other financial statements are not appearing in the mail - While many people are now banking online, this could be a sign that transactions or withdrawals are being hidden from you. Make sure you have online access to your financial accounts in order to track activity as well as to keep a record for any future divorce proceedings.

• They have a sudden decrease in income – This could be a sign that your spouse is hiding money for other purposes. They could also be deferring compensation or bonuses until after a divorce so that it will not be subject to division.

• Becomes defensive when asked about money – While talking about finances can be a spark for an argument, defensive behavior can also be a sign that your spouse has something to hide.

• New business debt or slowdown in business – For business owners who are looking to hide money, one possible way is to wait on collecting money they are owed so that their business appears less profitable during a divorce. The debts will then be repaid after the divorce is final.

• Overpayments or Loaning Out Money - Another way to appear to have less money during a divorce is to overpay creditors, the IRS, or to give out loans to family or close friends. The money will then be refunded by the creditors or repaid by the loanees after the divorce.

Trust an Oconomowoc Divorce Attorney

If you suspect that your spouse is hiding money or other assets from you, it could be a sign that your marriage is headed for divorce. Don’t wait to take action to protect your property and assets. Call the Waukesha family law attorneys at Bucher, Wolff & Sonderhouse, LLP. Our experienced lawyers will be your advocate through the divorce process and fight hard for you so that you can achieve a brighter future. For a free consultation, call our office at 262-232-6699 today. 

Sources:

https://moneyinmatrimony.com/10-signs-that-your-spouse-is-hiding-money-and-how-to-manage-it/

https://www.forbes.com/sites/jefflanders/2011/06/28/five-ways-to-tell-if-your-husband-is-hiding-assets/?sh=6532b96e6a17