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Don't become your ex's fraud victim in divorce, part 1

When a romantic relationship begins, very few people believe that things could ever get ugly or to the point of divorce. But divorce statistics prove that most people are wrong. Marriages start with the best of intentions, filled with love, but then they sometimes end in the most acrimonious way.

More than hostility taking over in a divorce, lies can also take over. Financial sources in Forbes note how important it is for a party (often the wife) in a divorce to learn the warning signs that indicate that her ex might be hiding assets in the property division or spousal support decision making process.

The following are just a few of the warning signs that spouses are encouraged to watch for when in doubt regarding fair asset distribution amid divorce:

  • Ex shares no control over bank account or other financial details, including account passwords
  • Ex refuses to be straightforward about financial situation
  • Ex has a P.O. box or other mailbox not connected to you where he might have financial statements sent
  • Ex claims that the computer on which all account information is stored suddenly does not work or clears out the hard drive
  • Ex suddenly claims that he is no longer making as much money as he used to
  • Ex is spending money on frivolous things that don't match up to his supposed financial situation

These are just some of the many warning signs on a long list of such "red flags" that divorcing parties should be able to identify when getting divorced. But more than seeing the warning signs of fraud, it is important for suspicious parties to act on their suspicions if they want to get their fair share out of a divorce settlement.

An upcoming post will continue this conversation, including why many suspicious parties decide not to fight for assets that they deserve.

Source: Forbes, "21 Signs That Your Husband May Be Hiding Marital Assets During Your Divorce," Jeff Landers, March 20, 2012

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