Unfortunately, a spouse may hide assets during their divorce. Perhaps they believe they have a stronger claim to some properties and, hence, they don’t want those assets to be subject to property division. Or they want to avoid paying alimony or at least lower their spousal support obligation by misreporting their income and assets. Some people even hide assets during divorce to keep more to themselves.
Regardless of the reason for a spouse hiding assets, if this is not discovered, a divorce may end in unfair decisions concerning property division, alimony and child support. So, how can you determine that your spouse is hiding assets? Here are some clues:
Inaccurate financail informataion
Spouses should exchange financial records during divorce to ensure each party is well-informed about the other’s financial situation. You should be concerned if your spouse refuses to cooperate. Possibly, they refuse to give you their financial documents or keep giving excuses.
When you receive your spouse’s records, take time to assess them. If you notice suspicious activities, such as missing bank statements/accounts, large cash withdrawals, unlisted properties, overpayment of debts, transfer of money to undisclosed accounts or a significant change in spending habits, your spouse may be hiding assets.
A change in social media activities
You may not discover some things from the documents your spouse hands to you. Thus, it’s necessary to do additional research. And the internet can be a suitable place to do this.
Review your spouse’s social media accounts to spot photos of large purchases or vacations. Their social media accounts may even provide information about their side jobs, which may not have been included in their income.
Hiding assets can disadvantage one party in a divorce. Legal guidance and working with forensic experts can help you receive what you deserve.