Is your Soon-to-be-Ex Hiding Assets?

Is your Soon-to-be-Ex Hiding Assets?

When we hear about a spouse who’s been sneaking around behind his or her partner’s back, we assume infidelity of some sort. But many couples can have financially dirty secrets, too. Especially after divorce proceedings start, many people want to “win” the divorce by whatever means necessary, and often that means getting more out of the final deal. One way to do this is to hide assets so that the split seems fair—but isn’t.

Hiding assets is generally easier to do by the party that managed the bulk of the finances while the couple was married. Therefore, the best way to defend against this behavior is to simply be involved in the financial affairs from the beginning, at least to the extent that you know where to find the records. However, if it’s too late and the records you can find don’t seem to add up, there are two major things to watch out for.

  • Less money now for more money later. Your partner may have deferred his or her salary or bonuses for now, only to have it appear after the divorce is finalized. Similarly, he or she may overpay creditors now—and the refund won’t appear until later. Another way to seem less successful is a method of cooking the books: up-sizing a company or delaying new projects that have come in.
  • Shady behavior. If you aren’t able to pay quite enough attention to the numbers themselves, you can still see a few telltale signs. Any defensive or controlling behavior when asked about financial things is a red flag. If you realize that bank statements or other financial documents that you used to see (in your mail or email) have gone missing, that’s almost a sure sign he or she is trying to hide something.

Proving that your soon-to-be-ex is hiding assets can be difficult, and that’s why it is so important to work with a qualified divorce team like the one at New Beginnings Family Law. Contact a Huntsville divorce attorney at their office for a consult today.

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