Is your spouse hiding assets?

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Posted By | February 12, 2021 | Articles

When going through a divorce, you want to imagine that your spouse will treat you fairly even if tensions run high. Unfortunately, this is not always the case. Sometimes, spouses are bitter enough that they will try to undermine you in any way possible. 

This often results in spouses attempting to hide assets during the course of the divorce. How can you tell if yours is doing the same? 

Hiding physical assets

Forbes discusses finding assets hidden during divorce. They focus on the most typical areas that people hide assets in. In some cases, the hidden assets may be very literal. Some spouses will buy lockboxes or other hiding places where they can store actual cash. In many cases, they will keep these boxes right in your own home. Sometimes, they may be paranoid enough to place them in their car or at their job instead. 

They can also use relatives or friends to hide assets. A common ploy involves a spouse claiming they are paying back a relative, or paying for a service or good. Their friend or relative then takes the money and holds on to it. The ultimate plan is for this person to return the money to your spouse after your divorce. 

Expensive goods and false employees

If your spouse runs a business, look out for fake employees, too. Another common trick involves writing paychecks to false employees and then voiding them out later. Fortunately, this deception is easily uprooted with a payroll audit. 

Finally, keep an eye out for expensive physical goods. This may include luxury items like watches or clothing. It could include sports cars or flat screen televisions. They could return anything with high monetary value after the divorce, thus depriving you of your share of that money. 

If you think your spouse is attempting to hide assets, consider contacting a legal professional. They can help you determine what your options are.