Financial secrets to look for in divorce process

Where is the money going? This is a question that many Pennsylvania residents ask. In many cases, it is simply being spent on legitimate household expenses. However, in other cases, a spouse may be attempting to stash money in a secret account or hiding a debt that he/she does not want the other spouse to be aware of. Often, this is a prelude to an impending divorce decision.

In many cases, there are subtle signs that one needs to pay attention to. When money that is usually available is no longer there, it may be time to do a little research. Where is this money going? Perhaps one’s spouse is attempting a surprise. But, is such a surprise going to be a pleasant one?

Prior to asking for a divorce, many individuals seek to protect themselves financially by stashing funds in a separate bank account or paying off debt. The premise behind such action is often to have money available to pay expenses associated with a divorce and to be able to establish a separate household. Depending upon the family dynamics and financial situation, this may place an additional burden upon an already unstable family situation.

It may not always be possible to discover financial secrets prior to divorce proceedings. Fortunately, each Pennsylvania resident involved in a divorce will be required to disclose all financial accounts during the process. With this information in hand, the individual, along with legal counsel, will be able to decide the best course of action to protect oneself financially throughout the process and in the future.