Is your spouse hiding assets?

Photo of attorney Melinda L. Singer

If you’re getting divorced, you know that you and your spouse have to divide your assets. Technically, you’re both supposed to disclose all of those assets to the court. However, some people try to hide assets so that they can keep them from their ex. Is this happening to you?

The key is in the details. You want to watch out for any changes, such as money being moved into a new account. You can also look at changes in expenses. Any sudden changes present a red flag. Even if it turns out that everything is legitimate, it’s worth taking a closer look.

For instance, maybe you notice that your grocery bills have been high for the last year. You haven’t changed any eating habits, so what happened? It could turn out that your spouse is getting cash back every time they go to the store. They’re then setting the money aside so that you don’t know it exists.

You also want to consider more subtle and hidden ways that people hide assets. Maybe your spouse’s boss came to them and said they could have a raise or that they were due for a major bonus. Instead of taking it, your spouse asked their boss to delay it until after the divorce. Are they just doing that so that you don’t get a percentage of that bonus or raise?

Don’t underestimate what people will do when money is on the line. If you think that your spouse is hiding assets or being less than truthful about what the two of you own, then you need to know what legal options you have.

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