It is a well-known fact that money issues lead to divorce.
When you get married, you don’t think how much finance will be a part of it. Something else you didn’t think of is your spouse hiding money from you. Uncovering that your partner is hiding money can leave you angry, confused, and hurt that they are taking it this far.
A spouse hiding assets mainly happens during a divorce. However, you should know it can happen when a couple is still together. Also, with today’s technology, it is easy for someone to hide money from their spouse.
If you’re suspecting your spouse is hiding money from you, continue to read this blog post to connect the dots.
Why Is a Spouse Hiding Money?
A husband hiding money is a form of lying and deception. In many people’s eyes, it is a red flag to a marriage foundation, so why would someone hide money from their spouse? There are many reasons why a spouse may do this and want to keep finances separate.
Below is a list of reasons why someone will do this:
- Their spouse may be reckless with money
- They may feel as though it is not of their spouse’s business
- They may feel as though money will change the relationship
- The spouse could be hiding how much money they’re spending
- The spouse could be failing in a business and does not want the spouse to know
- Their spouse is planning to leave the relationship
- The spouse enjoys financial independence
- The spouse may be spending money on someone else
As you can see, there is a mix of good and bad reasons why a spouse has hidden assets. Your spouse can be up to no good when they are hiding money from you, or they may feel you should trust them. Also, men are not the only ones who do this, a wife hiding money is possible.
Signs Money During a Marriage Is Hidden
If you believe your spouse is hiding money out of dishonesty, then there are signs they will display.
Below are some of the signs to look for if your husband or wife is lying about money:
The first side to look for when your spouse has hidden assets is secretive behavior. For example, your partner may change their online banking passwords, delete files off the computer, or refuse to talk about finances. If they are doing this, then it may be for a shady reason.
Living a Lavish Lifestyle With Low Income
If you know that your spouse has a low income but is living a lavish lifestyle it may be due to hidden assets. How else will they be able to spend money on expensive gifts, clothes, and cars when they have no income coming in? It makes no sense!
Changes in Withdrawal Activity
If you notice any changes within your spouse’s bank account, you might want to take a closer look at the statements. It is not uncommon for someone to withdraw money, but if it is a large sum, something is up.
Overly Protective With Financial Documents
Have you noticed your spouse doesn’t leave their financial documents lying around? Do they become upset when you just so happen to glance over them? A partner lying about money and becoming upset over you looking at documents may be hiding something from you.
Sudden Changes in Business Profitability
Your partner being a business owner does not mean they are hiding assets. However, it does allow them to do so.
Also, running a business is not simple, and sometimes profits change. A red flag is your spouse keeping you from reviewing financial documents.
Unfamiliar Financial Institutions
Even though your spouse is hiding money, it is a good chance you still know who they bank with or have taken a loan out from. If you see new financial institutions, it’s a good chance your spouse has hidden assets. Your partner not wanting you to find out about it is another red flag.
A husband hiding money will do these behaviors when they are thinking about divorce. If you believe your marriage is on the roads, then read this blog post to know the signs your husband is thinking about separating.
Cryptocurrency Is a Good Way to Hide Assets
The rise of cryptocurrency has allowed spouses to hide money from their significant other. Unfortunately, the tracking of these digital funds is hard, which is why you need to know if your spouse has invested in cryptocurrency.
Industry experts say over 20 million Americans own cryptocurrency, and it has helped them conceal their stash while divorcing from their spouses. So if you’re heading towards a divorce and know your spouse has invested in cryptocurrency, you may want a lawyer to look into it to help you find hidden assets.
How to Uncover Hidden Assets
Now, how can you uncover the fact your spouse is hiding money? Unfortunately, this is no easy task, especially if you do not have a joint bank account with your husband. However, if you do, you can request bank statements from your bank to go over any changes within the account.
However, with independent accounts, you will not easily access bank statements and will have a more difficult time discovering hidden money.
As a start, you can try following these tips below to find out if your spouse has hidden assets:
- Check to see if they have bank statements lying around the house
- Check to see if they open any new credit cards
- Monitor how much they’re spending
- Find out where they hide their documents
These steps may be view as sneaky behavior, but if your spouse is lying about money, then these are the measures you have to take.
However, a word of caution, stick to places you have access to and don’t go to your spouse’s workplace to go looking for documents. Taking this action can only make matters worst for you.
You Found Out Your Spouse Is Hiding Money, Now What?
If you know for a fact that your spouse is hiding money from you, then you might want to confront them. But, as much as you can, make the conversation respectful.
If you are planning on divorce, hire a lawyer to find any hidden assets. If, however, you decide to remain married, then ask for help from a marriage counselor to help you re-connect with your spouse.