A high-asset divorce can involve complex negotiations over money and property. That gets even more complicated when your spouse is not honest about the finances.
Spouses can get sneaky and try to hide assets from you to avoid sharing them during property division. If you can prove they are doing so, a court may award you a larger share to punish them for their dishonesty.
Ensure you understand the complete financial picture in a divorce
Finding out if your spouse is concealing assets may require specialist help from a forensic accountant. They will go through the family finances with a fine-tooth comb looking for suspicious activity. Yet, as the person who has spent more time than anyone with your spouse, you may have your own hunches. Think back and see if any of the following things have occurred:
- Your broke brother-in-law bought an expensive property: If the family failure somehow found the money to make a big investment, it might be because your spouse put up the money. By putting the title in their brother’s name, they hoped to avoid splitting it with you.
- Your spouse did not get their usual bonus this year: You were sure the company your spouse worked for had a great year. Yet your spouse said they did not pay her a bonus. It may be she asked the boss to hold onto it until your divorce is finalized.
- Your spouse has lost their business mojo: You’ve been married for 25 years and never known your spouse to make a bad investment. Yet recently, they have been telling you their business moves are not producing the goods. It may be they are lying and only revealing part of the profits to you.
There are many ways to hide assets. While it can take time to show this is the case, it is essential to get the share of the property you are entitled to in a divorce.
