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What should I do if my spouse is hiding assets?

On Behalf of | Oct 25, 2021 | High Asset Divorce |

Let’s face it, divorce can get messy. During the divorce process, it is not uncommon for some divorcing couples to attempt to hide assets from the eyes of the court or their partners. 

If you suspect that your spouse is hiding assets during the divorce process, there are certain tools at your disposal that you can use to expose their behavior and safeguard your interests. One such tool is the discovery process. When your spouse becomes uncooperative or refuses to be transparent, you can use the discovery process to obtain vital information that is necessary for a fair division of marital assets. 

Put your evidence together

Before informing the divorce court about your spouse’s behavior, it is important that you gather evidence that they are indeed attempting to hide assets. Some of the evidence you may look out for include:

  • Unapproved transactions
  • Discrepancies in income and expenditure
  • Salary withholdings from the employer
  • Overpaid bills

File for legal protection

Because couples often share rights to property, sometimes you may need to file for divorce to safeguard your rights. The law allows the court to enter a decree necessary to protect your property rights while going through the divorce. This may include an order to freeze certain bank accounts, halt a seemingly fraudulent transaction or direct that certain financial documents be produced. Penalties may apply to the spouse who deliberately violates an existing court order. 

Get professional help

If you believe your spouse is attempting to hide marital assets, it is important that you consider enlisting professional help. Private investigators can help you trace hidden assets, recover illegally transferred funds and file legal protection. Your legal representative can also work with your spouse to set up a framework for property division in accordance with state laws. 

While some divorcing spouses will agree on contentious issues like property division during divorce, it is not unusual for some partners to fail to treat divorce and marital property disposition with the seriousness it deserves. This is especially common in high-asset divorce cases where one party feels they stand to lose a lot.