Hidden assets and forensic accounting

Married people who live in California and who become suspicious that their spouse is not being honest with them financially may often wonder what they can do about their concerns. If the couple is still married, these suspicions might point to an impending divorce. If a couple is in the midst of a divorce, the concerns may raise a flag about the legitimacy of the divorce negotiations that are currently underway.

One thing that some people do when they have fears that a spouse is hiding assets is to hire a forensic accountant. As explained by the Forensic CPA Society, these professionals can be involved in both investigating allegations or concerns as well as in providing support during litigation, such as in a divorce case. They are skilled at identifying hidden assets and at calculating any losses or damages that may be related to the hiding.

According to Forbes, there are many ways a spouse might try to sneak assets without their partner knowing but there are some signs people should be aware of. One of these is a sudden change in investment strategy, especially if a previously conservative investor appears to be opting for riskier alternatives with no clear reason. Evidence that money has been moved to or from an account that is not consistent with past transactions is another red flag.

Some people simply try to avoid the issue altogether by refusing to cooperate on financial matters or playing dumb, alleging that they forgot about specific transactions when asked about them.