4 Signs Your Spouse Might Be Hiding Assets From You

HInsdale IL hidden asset lawyerYou have probably heard of romantic infidelity, but have you ever heard of financial infidelity? Financial infidelity is when one person hides money or other assets from their spouse, and it is not uncommon. According to a report by Creditcards.com, about 15 million American adults currently have a credit card, checking account or savings account that their live-in spouse or partner does not know about. Another 9 million people admitted that they used to have a secret account but no longer do.

Financial infidelity can be stressful in any relationship, but it can become even more stressful in a divorce. Here are a few signs that your spouse may be hiding assets from you:

  1. You find unusual statements in the mail. This one can be the most obvious. If you have been getting account statements in the mail from banks or credit card companies that you are not familiar with, they could indicate that your spouse has an account with them that he or she has not told you about.
  2. Your spouse is controlling your joint bank accounts. This one could be harder to detect if your spouse is usually the one who takes care of the finances. If your spouse all of a sudden begins being secretive or controlling of your joint checking or savings accounts, it could be a sign that he or she is trying to conceal certain financial actions.
  3. Your spouse has made unusually large purchases. You are probably aware of your spouse’s spending habits. If they are making unusual purchases or very expensive purchases, like cars or jewelry, without your knowledge, they could be attempting to underreport the costs of those items.
  4. Your spouse has opened a custodial account. While this may seem like a responsible and preemptive thing for your spouse to do, it may have happened for the wrong reasons. Opening a custodial account under your child’s name and social security number can allow them to put away money while saying it is for your child.

A Hinsdale, IL Asset Division Lawyer Can Help

When you get a divorce, you will eventually have to divide community assets between you and your spouse. If your spouse has an array of assets that you are on aware of, he or she could be getting much more than his or her fair share. If you have reason to believe that your spouse is attempting to hide assets from you, you need help from a knowledgeable and aggressive DuPage County community property attorney.

At the Law Office of Martoccio & Martoccio, we understand that divorce can be stressful. We also understand how frustrating it can be when your spouse has been unfaithful to you -- whether that be romantically or financially. Contact our office today to see how we can help you uncover your spouse’s hidden assets. Call the office at 630-920-8855 to schedule a free consultation.

Sources:

https://www.creditcards.com/press-releases/2018-financial-infidelity.pdf

https://www.trustify.info/blog/15-signs-your-spouse-is-hiding-assets

https://www.forbes.com/sites/jefflanders/2012/03/20/21-signs-that-your-husband-may-be-hiding-marital-assets-during-your-divorce/#2331669b1a89

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