No matter how long you’ve been together or how emotional your circumstances have become, there’s nothing easy about making the decision to divorce your partner and put yourself on the path toward a new life. In the midst of the emotional turmoil many people experience due to the significant life changes involved in a divorce, many people often find themselves concerned about what their financial life will look like when the dust settles.

If you and your spouse have combined your finances, you shouldn’t assume that the division will be equitable. In fact, it may be anything but. In a 2011 study released by The National Endowment for Financial Education (NEFE) , just short of one-third (31%) of people who had shared finances with their partner or spouse admitted that they had engaged in deceptive behavior. The behavior and actions took several forms, but three statistics stand out:

Keep in mind that these are not couples in the middle of breaking up or divorcing — these are couples supposedly supporting each other and happy (or at least satisfied enough to stay together) in their relationships. Given these statistics, it’s no surprise that many people go even further and try to hide even more assets from their partners when divorcing.

If you’re preparing for or are in the midst of a divorce, keep the following signs of asset-hiding in mind as you proceed. One of the best ways to protect yourself is to hire competent legal counsel, and at The Fairell Firm, our Atlanta divorce attorneys work tirelessly to protect our clients’ assets and work toward an outcome that serves their best interests. Contact us if you would like to schedule a consultation, and read on to get a better understanding of how a spouse could hide assets during your divorce.

Tax returns tell a story and provide clear insight into a couple’s financial life. If one year isn’t complete or information has been omitted, that should serve as a red flag that there’s something your spouse doesn’t want you to know as you divorce. Maybe their investments paid significantly larger dividends than they have in the past, or perhaps they sold assets and are trying to protect the gains from the divorce. There’s also the possibility that more taxes than necessary were paid in an attempt to get them back as a refund in the next year. Any number of paths to financial deceit can be taken, and the bottom line is that it’s important to obtain a complete and accurate tax return that your divorce attorney can examine. If you aren’t sure whether the tax documents your spouse provided are accurate, you can always contact the IRS to verify the return.

Complete and accurate financial statements are just as important as tax returns. They tell a similar story about your bank statements, credit cards, and other financial assets and should always be thoroughly reviewed instead of taken at face value. Some spouses go so far as to edit statements in an attempt to pass them off as original documents, so make sure that you’ve requested them directly from the company whenever possible.

If your spouse owns a business, it’s important to have your divorce attorney request and review their financial information. It’s not at all uncommon for one spouse to funnel money away from shared accounts by paying non-existent employees, redirecting funds, fabricating expenses, and blurring the line between business expenses and personal expenses. Reviewing business expenses can become complicated, making it even more important to find an experienced divorce attorney who knows what to look for and will leave no stone unturned.

There are a number of different payment applications that allow you to store money in an off-the-radar account that can later be transferred to one spouse’s personal account. These accounts can be difficult to spot, but spouses and divorce attorneys can keep an eye out for transfers out of personal bank accounts, receipts from smartphone application stores, and in the browsing history on shared devices.

Cash is one of the most obvious ways a spouse can hide assets during a divorce. It’s easier to find than the other methods discussed in this post due to the fact that bank statements will show withdrawals, but finding it is often another story. Many spouses will go to great lengths to hide money in the home, often choosing lesser-used locations such as basements and crawl spaces to hide their money. If you discover cash while rummaging through storage or in a location you didn’t expect, there’s a good chance that cash isn’t the only asset that’s been hidden from you.

One last way that spouses often hide assets is by purchasing non-liquid assets that can be sold fairly easily after the divorce for something close to the purchase price. The catch is that these items don’t often look valuable, making them less likely to be targeted when assets are divided. Jewelry, antiques, and artwork are three common categories that might be targeted through a concealed outflow of cash. If you notice that your spouse has suddenly taken up an interest in a hobby or items they never spoke about prior to the divorce, it’s worth bringing it to your divorce attorney’s attention for further investigation.

These are just a few of the most common ways in which a spouse might hide assets during a divorce. As a general rule of thumb, if something doesn’t seem right, make a note of it and discuss it with your attorney.

Money can make a difficult divorce even more mentally taxing, complicated, and emotional. Regardless of whether or not you suspect that your spouse is hiding assets from you, working with an experienced divorce attorney can provide you with confidence and peace of mind as you proceed and work toward the best possible outcome for your family.

At The Fairell Firm , we work tirelessly to protect our clients’ interests and resolve divorce cases as quickly as possible. We understand that this is likely one of the most difficult times in your life, and you can count on us to be there for you whenever you have questions or simply need support.

Call our office or fill out our online contact form to schedule a consultation with a divorce attorney who will put your needs first.