Alimony is an important support pillar to many people in the direct aftermath of divorce. Of course, many people also struggle to receive their fair pay.
Some spouses attempt to get out of paying their due by hiding assets. What red flags should you look out for in this case?
Passive vs. active asset hiding
Forbes discusses some of the attempts people make to hide assets during divorce. They may attempt to hide assets either actively or passively.
With passively hidden assets, a person attempting to hide these typically does nothing more than refuse to remind their partner that the assets exist. After all, hidden assets often include assets that people often forget about anyway. This can include country club memberships, airline mileage and more.
With actively hidden assets, a person will go out of their way to obscure the source of an asset stream or a chunk of assets. This is typically where the red flags start to show.
Examples of red flags
For example, a spouse attempting to hide assets will usually change their spending behaviors. They may suddenly drop all superfluous spending, or they could suddenly increase it and start spending excessively depending on their tactics.
Likewise, they may grow more furtive about their financial information. If they were once open and now refuse to share even so much as a receipt, it could indicate that they have decided to try hiding assets.
Of course, asset hiding is illegal. It is possible to get financial compensation in the event that a spouse attempts to do this.
