Is your spouse hiding assets in a divorce?

On Behalf of | Aug 6, 2022 | divorce | 0 comments

Having a clear understanding of the property you own as a married couple is crucial to achieving a fair outcome when you divorce.

Some spouses, however, are reluctant to share. If you agreed to let your spouse keep separate specific assets through a pre-marital agreement, they are within their rights not to share anything it covers. Yet some spouses go further and try to avoid sharing assets that a court would consider marital assets, which should be divided.

There are many ways to conceal assets

How easy it will be for your spouse to hide assets depends partly on how much financial information you had before.

If you knew your spouse had a few businesses but never really understood or asked much about them, it would be easier for them to hide money than if you worked together and went through a financial spreadsheet together each month.

That being said, it is never too late to take an interest. You have every right to ask your spouse for financial documents and information. If they refuse, you can ask the court to order them to provide those things.

Each party needs to be honest about their finances when submitting information to a divorce court, and a judge may punish a partner who fails to disclose everything.

While it is always wise to be cautious and consider the possibility that your spouse may be hiding assets, certain things should have you worried. If your spouse starts moving money around, deletes financial information from a shared computer, looks at investing in new things, or simply closes up about money when they were previously open, seek legal help. There might be nothing to worry about, but you cannot afford to run that risk. 

Getting sound legal guidance is the best way to ensure you get the divorce deal you are entitled to receive.