Bel Air Divorce Lawyers Discuss Financial Warning Signs of a Divorce

Often a spouse has no idea a divorce is forthcoming.  However, there are often financial clues that can indicate whether or not a spouse may be premeditating divorce and planning for the best financial scenario for themselves.  Subtle and even non-subtle changes in behavior are really good indicators of your spouse’s plan to gain the financial edge in a divorce.

Almost certainly, in addition to changes in financial behaviors, there are other typical non-financial behavior modifications to be aware of.  These might include less communication, more arguments, lack of affection, stress, and isolation.  More obvious behaviors can also include initiating major home improvements, buying a vacation home, or wanting to sell a home to downsize.

Be Alert for Economic Clues:  Play an Active Role in Your Family’s Finances

Most couples today have a diversified financial portfolio that can consist of bank accounts, stock options, a professional business, retirement funds, pension plans, life insurance policies and vacation properties.  Keeping track of all these can be a daunting task, but it may prove worthwhile in the end if you find yourself facing the possibility of a divorce.  To protect yourself, be on the lookout for the tell-tale signs that your spouse is contemplating a separation or divorce.  Some of the more common financial warning signs include:

  • Your spouse begins arguing about money.
  • Money seems to be hidden and cannot be accounted for.
  • You receive statements in the mail from an unfamiliar financial company.
  • Direct deposits stop going into your joint accounts.
  • Passwords to online accounts are changed.
  • Bank statements and other financial records are diverted to another mailing address or PO box.
  • Your spouse becomes more financially controlling, insisting on a budget and demanding accountability of your spending.
  • You notice large cash withdrawals from your bank and other financial accounts.
  • Your spouse begins to pay for his/her own credit card bill.
  • You notice a rise in business account expenses.
  • A dramatic decrease in salary
  • One spouse suddenly lavishes the other with gifts or vacations.
  • Contributions to retirement or savings accounts are reduced or stopped altogether.
  • Spouse takes out loans.
  • Unusual purchases are made that can be returned or sold at a later date.
  • Transfer of stock or other investments to family members or business associates.

Other premeditated strategies that spouses may employ are claiming that their business is not going well.  They may state things such as sales are down, layoffs are coming, or portray an overall bleak picture that things are not economically sound within the company.   This may be an attempt to create an outlook in the other spouse’s mind to not expect or request too much financially in the divorce proceedings.  If you begin to hear and see any of the behaviors listed above, it would be a prudent decision to seek the assistance of a reputable divorce lawyer.  Moreover, getting your own finances in order is even more important.

Huesman, Jones & Miles, LLC: Skilled Baltimore County Divorce Lawyers Helping Maryland Residents in all Aspects of Family Law and Divorce Matters

If you suspect that your spouse is attempting to hide money or assets, you need to contact an experienced Bel Air divorce lawyer as soon as possible.  You may also consider hiring a divorce financial planner that can provide additional advocacy support before, during and after a divorce.  At Huesman, Jones and Miles, LLC, you can count on our legal team to protect your rights and your financial security.  We are able to conduct a thorough investigation into your spouse’s marital assets and will utilize the services of a forensic accountant if need be during this discovery phase.  Our goal is to ensure an equitable distribution of your assets in the divorce.  We handle all aspects of family law and divorce matters including spousal support, child support, child custody, parenting plans and grandparents’ rights.

Our law offices are conveniently located in Hunt Valley, Maryland allowing us to represent clients throughout Baltimore County, Carroll County, Harford County, and Howard County including the areas of Baltimore, Towson, Columbia, Bel Air, Westminster, and Essex.  To schedule a free consultation with a skilled Bel Air divorce lawyer, call our offices today at (443) 589-0150 or use our online contact form.

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