If you are going through a divorce in New Jersey, the process of separating and dividing assets can get sticky. While it would be nice if every marriage ended amicably, the reality is that many end messy and one spouse may not be totally honest and upfront, particularly about money. If you feel your spouse is hiding money from you to avoid splitting it fairly, CNBC gives you signs to watch for to identify financial infidelity.
A study done showed that only 61% of people are completely open and honest about their finances with their spouse. In addition to that, only 52% of people think that their spouse or significant other is honest when it comes to money. Over 31% of people felt that financial infidelity is worse than physical infidelity.
Financial professionals have identified a few things you can watch for if you are concerned that your soon-to-be-ex-spouse is not being honest about your finances. Be on the lookout for financial statements, investment account information or credit card bills in the mail. If they stop coming, there may be something to worry about. Also watch for strange behavior from your spouse, such as lavish or careless spending.
Other clear signs of financial infidelity include changes in cash flow or income. Your spouse may suddenly make checks out to cash or make large cash withdrawals from your account. Once the money is in their hands in cash form, it may not be counted toward your marital property.
Fortunately, there is usually a paper trail when it comes to financial infidelity, but you must know where to look. A good divorce attorney can help you protect your assets from a dishonest spouse during a divorce.
This is intended for educational purposes and should not be interpreted as legal advice.
