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Is your spouse trying to hide assets?

On Behalf of | Jun 29, 2021 | Divorce |

Going through a divorce is already difficult enough on every party. Unfortunately, you sometimes have more on your plate to deal with due to the actions of your spouse. This is the case if they try to hide assets from you.

But what are hidden assets? How does a spouse attempt to hide them? And why should you do what you can to uncover these assets?

Why should you care?

Forbes discusses property division in divorce and attempts at hiding assets that might happen during it. First, the name is somewhat self-explanatory. Hidden assets are financial, monetary or physical property that a spouse attempts to conceal from you. They often do this to prevent you from getting an equitable share during the asset division.

Needless to say, you want to uncover hidden assets so you can get your rightful portion. If a spouse successfully gets away with hiding assets, you could also struggle with smaller alimony or child support payments than you deserve, too.

What should you look for?

So you want to keep an eye out for potential signs of asset hiding. You may tell through their potential reluctance to allow you to look through their financial records. You may also notice an increase in their purchase of expensive items, or sudden repayment of “debts”.

The former happens because expensive items often get returned after a divorce’s finalization, allowing your spouse to collect their money. The latter follows the same principle, but they collect the money from a friend or relative instead after paying back a fake “debt”.

If you notice anything suspicious or feel in your gut that something is off, consider contacting legal help. They can get you connected with forensic financial analysts who can prove the truth.