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Is your spouse trying to hide assets during a divorce?

On Behalf of | Jun 12, 2020 | Divorce |

As many in Littleton probably know, divorces are rarely smooth and never easy, especially when there’s a big fight over the marital assets during the property division part of the proceedings. Some deceitful spouses even use underhanded tactics to hide their assets, so that they can keep all that wealth to themselves and not give up a share. Sadly, this happens all too often, and it’s not only unethical but also illegal.

Nowadays, people’s financial portfolios can be truly complex, with multiple sources of income, properties, stocks, bonds, 401(k)s, IRAs, pensions and more. It should come as no big surprise, really, that in all this complexity there are ways to conceal assets, and it may take a skilled investigator to find them.

The following are just some of the many ways your spouse may be hiding the marital wealth:

  • Concealing cash in a hidden safe or secret deposit box
  • Purchasing art or antiques, items that could be overlooked or undervalued
  • Giving stocks to trusted partners who will return it after the divorce 
  • Underreporting their income for taxes
  • Overpaying the IRS to get a refund after the divorce is done

If you’re worried that your spouse is scheming against you, it may be a good idea to hire a forensic accountant to follow the paper trail and find the hidden assets. It’s important to have an idea of where your spouse could be concealing the assets, but you should leave the investigation to a professional. Otherwise, you may get into serious legal trouble for snooping.

Since your spouse is required to provide all their financial details before the divorce is final, the court may very well reprimand them and force them to pay you your rightful portion — or more, if they’re caught. 

Finding the legal help you need

If you think your spouse might be hiding assets prior to your divorce, it also helps to talk to an experienced Littleton lawyer who can fight on your behalf to see you get the fairest share possible of your marriage’s property.