Where might your spouse hide assets in your divorce?

On Behalf of | Sep 20, 2022 | Divorce |

The property division process requires you to divide your marital assets. Yet you cannot do this fairly if some assets pass under the radar of you and the court.

Not all spouses try to hide assets, but when they do, it can prove costly for the unsuspecting partner.

If you are unsure whether you can trust your spouse to be honest, it may pay to do some research. They may protest you are being overly suspicious, yet the reality is you are just being cautious, and there is nothing wrong with that. If it upsets them, tell them they are free to check that you are not hiding anything too. Here are some popular places to hide assets:

In the house, right under your eyes

There might be a secret safe in the house or outbuilding. Yet the things in the house might also be of value. Maybe that piece of modern art you said a five-year-old could have painted is worth much more than you think. Maybe the heap of junk your spouse tinkers with is actually a valuable classic vehicle.

In things registered in the name of others

If anyone close to your spouse recently made an unexpected large purchase, such as a Maui beach house, when you know they hate the sea, it might be that your spouse bought it but put it in their name.

Far out of reach

Offshore accounts, cryptocurrency and secretive trusts in certain states are all popular hiding places. Those sometimes require help from forensic accountants and other professionals to track them down.

If you are worried about receiving what you are due in your divorce, seek legal help to ensure all assets are accounted for in the discovery process and throughout this process.