If you are going through a divorce or your live-in relationship is on the rocks, your spouse or partner may be hiding money, or attempting to do so. In some instances, he may be concealing assets he believes are rightfully "his." In other cases, she may be hiding the expenses of an extramarital affair. In any event, a partner who is hiding money will often display warning signs that can tip off the other partner.
Unfamiliar Financial Activity
If your joint checking account has cancelled checks or withdrawals you know nothing about, it could be a sign that your partner is hiding money, according to Woman's Divorce. If you suspect that is the case, check joint tax returns as well as insurance policies, credit card bills, brokerage accounts and safety deposit boxes, the Charlotte Observer, MSN Money and Woman's Divorce advise. Your partner may also hide money in the form of travelers checks or savings bonds, according to Nolo.com, a legal advice web portal.
Secretive and Defensive Conduct
If you discover that your partner has opened bank accounts or obtained credit cards she hasn't told you about, she could be hiding money, according to MSN Money. If he is generally defensive about money, or demands to control the household funds without your input, that is another red flag that your partner could possibly be diverting joint assets for his personal use. Having mail delivered elsewhere could be a sign that your partner has bills or statements he doesn't want you to see.
Unexplained Purchases and Expenses
Large purchases, such as art or antiques, could be an attempt to divert assets before or during a split, MSN Money warns. Unusual business expenses, such a "salary" paid to a friend in the form of checks that will never be cashed, or phony "debt repayment" could be another means of hiding money from a spouse or partner, Nolo.com states. Custodial accounts supposedly opened for children, but for which the partner never pays interest or reports on a child's income tax return, may also be an attempt to divert money, according to Woman's Divorce.
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