Your spouse hiding assets during divorce can prevent fair division. That’s why it’s crucial to spot any missing assets on your spouse’s list or when a detail, such as income, is misrepresented. Uncovering hidden assets is integral to fair and equitable distribution.
But how can you tell if your spouse is hiding assets?
1. Secretive about finances
You should be concerned if your spouse is secretive about finances during your divorce. Perhaps they don’t want to share their bank statements, mortgage statements, pay stubs or tax returns, or they get defensive when you ask about money.
Essentially, if it’s difficult for you to fully understand your spouse’s financial situation because they are guarded, they may be hiding assets from you.
2. Transacting large amounts to others
If, on your spouse’s bank statements, you notice they are passing large sums of money to family or friends or even unfamiliar accounts, they may be doing so to hide money from you. They may intend to get the money back after the divorce is finalized.
3. Withdrawing large amounts
Some divorcing spouses have been reported to withdraw large amounts of money from their bank accounts and store it in a secret location. It can be hard to track money hidden this way, as there is no paper trail showing a recipient. Nonetheless, you should still raise the matter in court for it to be investigated.
4. Missing or altered transactions
If a transaction that should be on the statements your spouse submits, for instance, their bonus or proceeds from the sale of an asset, is missing or incorrect, they may have deleted or altered it.
Your spouse hiding assets during your divorce is unlawful. If you believe the information provided by your spouse does not reflect their financial situation, get more information on how to uncover the hidden assets.