If your marriage is heading toward a divorce, you probably already know that it can bring out a person’s worst behavior. Emotions typically run to extremes and can include anger and hurt. These emotions, particularly anger, often make people behave in ways that are potentially illegal.
One of these is attempting to hide assets, thereby keeping them out of the hands of the other spouse. When valuable property or wealth is at stake, hiding assets can make an already complex property division case even more challenging.
One of the biggest pieces of wisdom we try to impart during complex property division cases is to entertain the possibility that your spouse may attempt to hide assets. It’s more common than many people believe. Accepting that it is possible allows you to take measures early on to locate all marital assets, ensuring that your property settlement is balanced.
Following are a few ways a person may try to hide assets:
- Setting up new bank accounts and slowly transferring funds in to them
- Hiring fake or non-existent employees
- Loaning money to friends, colleagues or family members
- Hiding large amounts of cash in the home or office
Although you can look for assets on your own, you may find it easier to locate them with help from a professional. Often, attorneys experienced with complex property division can help clients look for hidden wealth.
Regardless of how you choose to uncover hidden assets, doing so can ensure that you end your marriage with your fair share of the family assets. Please continue exploring more of the information on our blog and our website for more information.