Signs of Hidden Assets In A Divorce Case
One of the more complicated parts of divorce is separating your marital property and assets. No matter how long you’ve been married, both spouses have the right to an equitable division of the assets you’ve earned and collected throughout your marriage. This brings in the potential for people to hide assets to decrease the amount that is shared in the divorce.
How do people attempt to conceal assets in a divorce?
Sometimes, if an individual wants to prevent certain assets, property, or cash from being divided in a divorce, they may attempt to keep them from the court. If you’re alert for signs your spouse is attempting to conceal assets, you can both ensure your divorce settlement is fair and equitable.
Warning signs that someone is trying to conceal assets and money from you and/or the court:
Has your spouse started making expensive purchases?
Another way to conceal assets is to buy valuable pieces of property like art or antiques, then understate their actual value during the divorce. This is called “converting cash to property.” After the divorce is final, the individual plans to sell the property back at its original value and converts it back to cash.
Does your spouse always have a lot of pocket cash, but their bank account is low or their paycheck has decreased?
People trying to hide monetary assets have their employer pay them “under the table” to avoid having that money on the books, in their bank account or having to share it with their spouse and family.
Is your spouse suddenly gifting or giving away valuable items, like artwork and jewelry?
This is an easy way to hide expensive property until a divorce is finalized. Often, people will temporarily gift valuable assets to family or friends until a divorce agreement is settled, then have it gifted back to them later.
How to Find Hidden Assets In Your Divorce
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