Photo of Professionals at Weinberg, Kaplan & Smith, P.A.
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Where do spouses hide assets?

On Behalf of | Mar 19, 2024 | High Asset Divorce

Not everyone acts in good faith during a divorce. Some people do their best to hide assets from their spouse to avoid having to give them a share when the marital property gets divided.

This is more likely to occur when the couple has significant wealth. Multiple accounts, several different types of investments and the continual moving of money allow more opportunity to hide a person’s trail of deceit than if your only assets are your house and the contents of one bank account.

Here are some places people use to hide assets:

In the digital world

Non-fungible tokens (NFTs) and cryptocurrency can confuse the uninitiated. Combine that with the impressive security they offer, and they can prove an ideal vehicle for concealing assets and putting them out of reach of others.

In the hands of other people

Who does your spouse trust the most? Maybe an old friend from college or their sibling. If any of them has recently acquired property you did not think they had the funds for, it’s possible they are acting as a vehicle for your spouse’s investment. They’re merely holding it in their name until the divorce is through, when they will transfer it to your by-then ex, leaving you missing out on a potential share.

Under your nose

Some people like to keep their money closer to home. They put it under the floorboards or in a safe in a room their spouse never enters. Others leave it in plain view as artworks or other investment pieces that their spouse does not understand the actual value of.

If you have doubts about your spouse’s honesty, it’s a good idea to seek legal help to investigate. After all, when you own considerable assets, even a little dishonestly could amount to a lot of money.