Is Your Spouse Hiding Assets? Watch Out For These Tricks
November 23rd, 2018
Are you worried that you may not get what you deserve in the divorce? It's a concern for a lot of people, but not just because of what a court will decide. They also worry that their spouse may hide assets and money from them, trying to make it look like the division of assets is fair when it's really skewed heavily in their favor.
If you worry about that, watch out for these three tricks that people use:
Stashing aside "cash back:" Every trip to the store is a chance to casually take money out of an account as cash back, counting on you not to notice it. They then put all of that cash aside for months or even years, building up a secret personal fund.
Lying about new income: Your spouse may say that they haven't gotten a raise in four years. The reality is that they got a raise every year, but they never told you. The income looks legitimate to you, but that's because your spouse is setting aside all of that additional money in another account.
Buying prepaid gift cards: This is just another way to hide money in daily transactions. If your spouse buys a $100 gift card every time they go to the store, they can set all of those cards aside to use at a later date.
These are just three potential tricks, but they help you see the lengths people will go to in order to hide money. Make sure you know how to locate these funds in a divorce to help ensure that you get a fair settlement.