For couples going through a divorce, it’s not unusual for one spouse to employ underhanded financial tactics to secure a more favorable outcome. This can lead to an unfair distribution of marital assets, leaving the other spouse with less than they deserve.
As such, staying alert to any unusual or suspicious financial activities leading up to a divorce and during the actual proceedings is essential to protecting your financial future. Here are some red flags you shouldn’t overlook.
Unexplained changes in bank accounts
If you notice unusual transfers, withdrawals or an unexpected decrease in joint account balances, it could be a sign that your spouse is moving assets. These actions may be intended to hide money or minimize what’s available for division. Keep a close eye on bank statements and document any explained or suspicious transactions.
A sudden increase in debt
A surge in credit card debt or loans could indicate your spouse is making large purchases or accumulating debt they expect you to share. Sweeping this under the rug could leave you repaying debt that never benefited you or your family. To stay informed, review recent credit reports and account statements to identify anything unusual or new credit lines you were unaware of.
New business investments
Be cautious if your spouse suddenly invests in a new business or property without your knowledge. It can be a strategy to tie up assets and protect them from division during divorce or make it difficult to claim your fair share. Gather as much information as possible about these new ventures to help ensure everything is accounted for during the divorce proceedings.
Remember, you have legal rights as a party to a divorce and should not take such attempts to manipulate the outcome lying down. If you believe your spouse’s financial activities may compromise your interests, seeking legal guidance can help you navigate such divorce complications and protect your rights throughout the process.