Going through a divorce is stressful and unpleasant, and you likely want the process to go as smoothly as possible. However, matters can quickly become complicated if it becomes apparent that your spouse is hiding assets.
If one party succeeds in hiding assets throughout the entire divorce process, they might wrongfully walk away from the situation with a greater share of marital property than they deserve. While it might considerably lengthen your divorce proceedings, it is important to carefully investigate any behaviors that might indicate such malicious intentions.
Strange account behaviors
If your soon-to-be ex-spouse starts making unexpected withdrawals from their financial accounts, it is worth scrutinizing the cause. Any attempts to change passwords or close joint accounts should be even more alarming.
Suspicious gifting habits
Another way an individual might try to keep an unfair share of assets is by sending gifts to friends. If your spouse gets the gift back after the divorce is final, then they successfully circumvent the standard process of dividing marital assets.
A sudden “decrease in income” can be indicative of an attempt to hide assets. Self-employed individuals or business owners might try to get away with this since their income typically fluctuates even in the best of times. Keep in mind that your spouse’s business might be a marital asset, but even if it is not, you can still request a business valuation to help shed light on its true value.
No matter what circumstances lead to your divorce, the fact remains that both parties deserve a fair distribution of marital property. Attempting to hide assets is an unjust act and one that may ruin any chances of maintaining an amicable relationship going forward.