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Warning signs a spouse may be hiding assets

| Nov 24, 2020 | Divorce |

Infidelity has led to the irrevocable breakdown of many marriages over the years. Spouses should know that infidelity in a marriage can take many forms. It does not always relate to romantic or physical relationships with other people.

Financial infidelity threatens the core of a marriage and undermines the trust between spouses. Some indicators may alert spouses to potential financial infidelity on the part of their partners.

Behavioral differences

Discussions about money can be difficult even under the best circumstances. But, The Simple Dollar indicates that a person hiding assets from a spouse may act out when money comes up in conversation. The person might be more emotional or adopt a harsh tone as they try to avoid talking about money.

Tangible differences

One spouse might go on a spending spree that is out of character, purchasing a slew of new items. Buying a new sweatshirt should not be a warning sign but buying a new car or other major item without prior discussion may be.

Factors contributing to financial infidelity

An estimated 15 million people hide either a bank account or a credit card account from a partner, according to NBC News. Some people do this to gain control over a spouse. Spouses hiding romantic infidelities may also hide money or debt related to those relationships. Other people may attempt to divert income to a solo account in preparation for a divorce.

Regardless of the reason, financial infidelity can both signal and cause serious problems in a marriage. An unknowing spouse may end up losing assets or paying off debt incurred by a partner.

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