In a previous post, we began a discussion about potential fraud during property division amid divorce. Forbes published a list of warning signs for divorcing parties to look for that could be potential signifiers that their ex is hiding assets from them.
Within this second post of the series, we will share a few more of those warning signs and also address a worrying reality regarding financial lies during divorce. This is an important family law matter to discuss, especially during economically difficult times:
- Ex often travels outside of the country to places where banking laws are not as strict
- Ex visits and talks finances with a “friend” whom you believe is unethical in nature
- Ex is supposedly making less money but you notice that he is spending as usual or more than usual
- Ex has various cell phones with different numbers
- Ex is an addict
Of course, an ex can display one or some of the above behaviors and not be trying to defraud his spouse in a divorce. But if a divorcing party notes some of these warning signs and feels in her gut that assets are being hidden during the property division process, she should look further into the matter with the help of her divorce attorney and perhaps a financial professional she trusts.
A legal and financial source reports that, tragically, many people who believe that their ex is defrauding them in divorce do not take action. Some supposed victims are too embarrassed to speak up and too afraid or sometimes exhausted to fight for their share of assets. Being the party with the least amount of money can make a person feel powerless, but the right divorce attorney can help restore some of that power and confidence in order to fight for what’s fair.
Source: Forbes, “21 Signs That Your Husband May Be Hiding Marital Assets During Your Divorce,” Jeff Landers, March 20, 2012