Asset division can be one of the most problematic concerns in a divorce. Your spouse may go to great lengths to ensure you do not get your fair share.
One way they may do this is by hiding assets from you and the court. A judge can only give you a share of what they know exists. Therefore, to ensure you get all you are entitled to, you need to account for all assets.
How can you tell your spouse is concealing property or money?
If your spouse is careful about it, you might never notice they have concealed assets. Yet, most spouses leave some kind of paper or digital trail that you can follow if you have the right people to help you. Here are some signs that your spouse may be up to something:
- There’s a disparity between your lifestyle and income: You live in a modest three-bedroom house, yet your spouse’s business appears to be an incredible success. If the money isn’t in a savings account or tied up in investments, they may have been secretly accumulating it in an account you don’t know about out of your sight for years.
- A discrepancy between your spouse’s lifestyle and income: Carpenters did not earn much the last time you looked. Yet your spouse’s best friend, a carpenter, drives a high-end car and has just bought a beach house in Hawaii. It could be that the vehicle and property belong to your spouse, only they put them in their friend’s name to keep them out of your reach.
- Recent movements of funds: You checked the balance of your joint account, and it shows that a large transfer was recently made from it. When you ask your spouse, they start waffling about interest rates, tax breaks and an unhelpful bank manager. Yet, they do not tell you where they moved it to or how to access it.
If you are unsure whether your spouse is honest or hiding assets, then you’ll want to delve a bit deeper to see what’s going on. You can seek a court order to gain access to any information your spouse refuses to share. Only when you know the complete picture of your assets can you seek your rightful share when dividing property in a divorce.