How to Find Money Hidden by Spouse: 10 Smart Strategies
Almost 30% of couples experience financial infidelity, including hiding assets, according to studies. This can make you lose trust in your spouse or wonder if the marriage is worth saving.
Fortunately, there are ways to work through a spouse hiding money, helping you to regain trust and harmony in your marriage. First, you should understand how to find money hidden by a spouse.
*Note: The information provided herein is not a substitute for legal advice and should be relied on in taking any particular actions. For specific, individualized legal advice, please consult a qualified attorney.
Signs That Your Spouse Is Hiding Money From You
If you worry your spouse is hiding assets, such as property or hidden bank accounts, you might notice some suspicious activity, including:
Avoiding money discussions
Hiding financial records
Finding unrecognizable credit card statements
Large withdrawals from the bank accounts
Secret investment accounts
Hidden business records
You may stumble across these signs by accident. For example, you may see an unusual credit card statement in the mail or an email for an investment account you haven't seen before. It can be unnerving, so the key is to know how to proceed.
Why Would a Spouse Hide Assets?
There are many reasons spouses may hide assets, especially if they think the marriage is headed for divorce.
Even if your marriage hasn't been on the rocks, your spouse may hide assets to retain control because he has a spending problem or an addiction he doesn't want to admit to having.
How To Find Money Hidden by Spouse: 10 Smart Strategies
Are you ready to learn how to find money hidden by your spouse? Here are ten ways to find assets.
1. Investigate Financial Records
If you aren't the spouse who handles the financial documents, get familiar with them and see if you discover any hidden assets. Look at credit card statements, investment account records, and bank statements.
If your spouse fails to share all the information with you, it's possible to find it yourself. Try accessing the last few months of statements to see how your finances have changed in recent months.
If you notice any large changes or discover accounts you didn't know existed, it's time to talk to your spouse. This step is important even if you aren't in the middle of the legal process of divorce. Discussing the issues now could save your marriage.
2. Scrutinize Shared Bank Accounts
Your shared bank accounts can tell you a lot about your spouse's financial habits. Access the bank records and carefully review them, looking for any large deposits, withdrawals, or bank transfers that don't coincide with either partner's income.
If you notice large deposits or withdrawals, it could be a sign that your spouse owns other assets you aren't aware of, such as real estate or stocks.
3. Examine Online Banking Activities
If you have access to the online banking portal, examine the activity in the account daily. You can watch the transactions in real time rather than waiting for the bank statements to arrive monthly. Consider setting up alerts so you're notified when something changes.
4. Analyze Past Tax Returns for Inconsistencies
Income tax returns can be a great source to find hidden assets. Not only will you see your spouse's income, but you'll also see any investments or real estate owned that you may not realize.
You'll also see any unreported income your spouse didn't share with you but reported to the IRS. Look closely at the deductions taken for clues to uncover hidden assets.
5. Consult a Skilled Financial Professional
A financial professional can help you decipher the financial records and help you uncover hidden assets. Having a professional review the documents can help you understand investments or property your spouse may own that he didn't disclose.
If you’re in need of financial counseling, schedule a consultation!
6. Search for Undisclosed Bank Accounts
Finding undisclosed bank accounts can take a little work. You'll need access to other account records, such as bank statements.
When reviewing those statements, look for unusual activity, such as large withdrawals or deposits from accounts you don't recognize. Those could be the undisclosed accounts your spouse owns.
7. Speak Discreetly With Trusted Contacts
Talking to friends and family members about your marital issues can feel awkward initially, but they may shed some light on the financial information you otherwise won't have.
Be careful in how you ask questions so you don't come off like you're putting them in the middle. Most people won't get involved in marital disputes, but they may come clean to protect you if you have a dishonest spouse.
8. Monitor Unexplained Lifestyle Changes
If you notice your spouse has new lifestyle habits that came out of nowhere and don't include you, it could be a sign of hidden assets.
For example, if your spouse suddenly dresses much nicer than before or seems to be away from the house more often but doesn't disclose his whereabouts, it could be a sign of financial infidelity. You may also consider monitoring his social media accounts to get clues.
9. Conduct a Property Search
Property ownership is public record, so you can search your local county or any others to discover any separate property your spouse owns. Public records are usually available online, so you can conduct the search discreetly from your computer or phone.
10. Initiate Open, Non-confrontational Communication
Conversation is paramount to saving your marriage. Don't come out pointing fingers and blame if you find hidden assets. That won't get you anywhere.
Instead, find a way to talk to your spouse non-confrontationally. This works well with a financial counselor who can help guide the discussion to be helpful and exploratory versus accusatory and mean.
Legal Consequences of Hiding Assets During a Divorce
If you can't save the marriage and are headed for divorce proceedings, there are legal consequences of hiding assets during divorce. You or your spouse must produce documents that prove all assets in divorce, but if either party hides them, it could cause trouble in the legal system.
Marital Property Laws
All states require full disclosure of all assets during divorce. A few states are community property states, which means all assets are divided equally in divorce. These states include Arizona, California, Idaho, Louisana, Nevada, New Mexico, Texas, Washington, and Wisconsin.
All other states are equitable distribution states. During divorce proceedings, the judge will determine a fair settlement based on many factors in the marriage and divorce.
Financial Fraud
Depending on your state, hiding assets could have legal consequences, including losing the asset, paying fines, or even jail time. All spouses are required to fully disclose their assets.
If you determine your spouse is hiding assets, you could initiate the divorce discovery process, which is a legal process that requires your spouse to provide all financial statements and information, as well as answer questions.
The Impact of Hidden Assets on Child Support
The consequences could be worse if a spouse hides assets in a divorce, including child support. In most cases, child support depends on income, and if the hidden assets are income-producing, child support will be affected.
Upon discovering the assets, the judge will likely retroactively force child support payments, forcing the spouse who hid the assets to pay any amounts he didn't pay initially. There may also be criminal charges or penalties for hiding the assets.
What To Do if Your Spouse Is Hiding Money
If you discover or suspect your spouse is hiding money, there are some crucial steps to take. Finding hidden assets doesn't have to mean grounds for divorce proceedings. There are ways to work through it with the right help.
Effective Communication
Communication is key, even when you feel hurt by your dishonest spouse. Finding out the reasons for the dishonesty is the first step.
You may find there are underlying issues your spouse needs to handle to stop the financial infidelity. The key is not to blame but to discover what's wrong and determine the steps to help.
Seeking Professional Help
Sometimes, you can't handle marital problems alone, and that's okay. Accepting professional help is the key to fixing things.
A financial counselor who understands marital problems and financial issues can help you work through the problems together, coming together harmoniously to create a solution.
FAQs
Should I Investigate My Spouse’s Finances Without Their Knowledge?
If you suspect one spouse has hidden assets, you can investigate their finances. While full disclosure is always best in a marriage, if you're worried about your safety or think the marriage is headed for divorce, you have a right to know about all assets.
How Can I Ensure a Fair Division of Assets if Hidden Money Is Discovered?
Your lawyer and the judge will ensure that dividing assets occurs fairly if the discovery process uncovers hidden assets during divorce. Hiding assets in a divorce is illegal, and the judge will ensure the right thing happens.
Can a Prenuptial or Postnuptial Agreement Address Concerns About Hidden Assets?
If assets are named in a prenup or postnup agreement, the judge can determine how to handle them. Typically, if they're named in the agreement, and both parties sign it, the assets aren't hidden and are the spouse's separate property.
Are There Any Free Resources Available To Help Finding Hidden Assets?
Your best bet to find hidden assets for free is to use public records and analyze financial documents. Look closely at bank and credit card statements and use the internet to help you find assets in your spouse's name.
Is It Possible To Recover Hidden Money and Assets After a Divorce Is Finalized?
The judge can reopen the case if you discover hidden assets after the divorce proceedings end.
You must contact your lawyer to inform him of the situation to determine how to proceed. Ensure you have adequate evidence of the assets and that they were a part of the marriage to get what you deserve.
Is It Illegal To Hide Money From Your Spouse?
Technically, it is not illegal to hide money from your spouse unless you are going through divorce proceedings. If you've decided to end the marriage legally, you must disclose all assets.
Does a Wife Have a Right To See Husband’s Bank Account?
Whether a wife has the right to see a husband's bank account depends on how you own the accounts. If it's a joint account, both parties have access to the bank statements and records. But, if it's a separate account, no laws state that a wife can or must see the account details.
You Can Find Financial Unity Despite the Setback
It can feel disheartening to find out your spouse has hidden assets, but it doesn't have to mean the end of the marriage. Knowing how to find money hidden by a spouse and how to handle it is important.
If you're worried your spouse is hiding money, contact me today for a consultation.
I can help you determine how to approach your spouse and how to gain trust in your marriage again while getting you back on solid financial ground.
If you’re interested in seeing what financial counseling is all about, schedule a consultation today!
Want to level up your game around money in your relationship? My free quiz will help you learn your Couple’s Money Personality Type AND how you can grow from there!
Adam Kol is The Couples Financial Coach. He helps couples go from financial overwhelm or fighting to clarity, teamwork, and peace of mind.
Adam is a Certified Financial Therapist-I™, Certified Mediator, and Tax Attorney with a Duke Law degree and a Master's in Tax Law from NYU. He is a husband, dad, and musician, as well.
Adam's wisdom has been shared with The Wall Street Journal, the Baltimore Ravens, CNBC, NewsNation, and more.
