Once a relationship goes sour, dividing assets is almost always an issue. This is why some individuals try to find sneaky ways to hide money from their partners to get the upper hand when the partner becomes an ex.
Hiding money is more common than it seems. In the event of a divorce, assets that can’t be found can’t be divided as well, and so a lot of people think hiding money is a smart move, reasoning that it is a way for them to get more out of a crumbling relationship. In our work as private investigators, we’ve found out that some people have found very creative tricks to hide money. Below are just a few of them.
Hidden in the Attic
Believe it or not, some people can get away hiding wads of cash in unexpected storage spaces such as an old vase, a paint can, or stuffed inside a toy.
Large sums received as checks can be valid for encashment for up to year depending on location. A sneaky spouse facing an inevitable divorce may simply choose to hide them and encash after divorce.
Stashed in Bills and Credit Cards
Overpaying bills and credit cards mean that the money is thought of as already spent. No one usually looks into this, helping the owner of the account to get away with hiding money which can be accessed later.
Diverted to Paypal or Similar Services
Money in Paypal or similar services is often unchecked and can be converted to cash or used to purchase goods later.
Parked in a Safety Deposit Box
Unless the other party knows where the box is, money saved in a safety deposit box is inaccessible.
Simply Never Mentioned
Lying by omission is an effective way to hide money. If no one else is aware, then the money will stay hidden.
Paid for a Fake Expense
Although quite easy to detect, stating that money was paid for a fake expense is a popular way for people to hide money and usually not found out until after a thorough audit or review.
Splurged on Gift Cards and Prepaid Credit Cards
Both prepaid credit cards and gift cards can be bought up to the thousands and simply stashed for future use.
Paid Under the Table
Some people just never report income and since no one who is unaware can prove the existence of such income, they remain hidden.
Almost nobody questions a large tax bill. The one who overpaid the taxes can simply process a refund later.
Transferred to Someone Else’s Account
A cheating spouse may hide money by transferring it to their new flame’s account. The same goes with other assets such as cars.
Know that there is no limit to the imaginative kinds of deception that people can think of when they want to hide money. This is why for an extra measure, it won’t hurt to hire a private investigator to look into things so that assets that are unaccounted for can be found.
If you’re in the midst of a divorce or considering it, having a private eye to look into things is a smart move. Consider it as an investment for your future minus your partner. Contact us at Haywood Hunt to avail of our private investigation services.