You tell your spouse that you would like to get a divorce, and they begrudgingly agree. They are unhappy about it, and they may blame you for the divorce. Maybe your relationship already had a lot of conflict, and this is just making it worse.
As you start getting your financial information and paperwork together, you notice that your spouse’s spending habits have changed. Maybe they have made unexplained financial transfers or started spending much more than they normally do. What’s going on?
Hiding or dissipating assets
Your spouse may be attempting to deprive you of assets during property division. When their spending and financial habits change with no other explanation, it is a major red flag.
One way they may do this is by hiding those marital assets. Maybe they transferred money into a different account or to a family member. Maybe they tried to hide assets in a business or perhaps they purchased items that they hoped would be undervalued. They’re trying to move assets around so that those assets are not included in the property division process.
Another way that your spouse may do this is simply by dissipating assets. This is when they spend money excessively just so they won’t have to split it with you. A red flag that this is happening is when your spouse starts spending on things that you cannot get a refund for and that have no lasting value, such as entertainment, food, drinks, hotels, plane tickets, etc.
What legal options do you have?
If you believe that your spouse is hiding or dissipating marital assets, it may be evidence of fraud and your divorce could get complicated. Make sure you understand your legal options.