During a divorce, a big part of the process is dividing assets. You and your spouse must list all your assets and debts, which are then divided based on your situation.
However, not all people are honest in these situations. Sometimes your spouse may try to hide assets, so they can’t be part of the divorce process. Knowing what to look for will help ensure you get a fair portion of your marital assets.
Are new accounts popping up?
When you are divorcing, your spouse may try to hide assets by opening new accounts you aren’t aware of. Watch the mail and even your email from statements or correspondence from banks or financial institutions you have never heard of or that you don’t know about.
Look into payments made to credit cards
Sometimes, your spouse may try to make overpayments on credit cards to hide money. For example, if your credit card balance is $250, but your spouse pays $2,500, that’s $2,250 your spouse doesn’t have to report as assets. This will essentially ensure you don’t get a portion of this money, but they will receive a refund at some point.
Look online for evidence
You can look online for evidence of hidden assets. For example, does your spouse have a PayPal or another online account? You can look through “favorites” on your home computer to see if you notice anything you don’t recognize or know about.
Protecting your rights to fair property division
If you are going through a divorce, you must ensure you get a fair share of your marital assets. If your spouse is hiding assets, you have a right to bring this to the court’s attention to ensure the money is accounted for. Knowing your legal rights is the best way to handle this situation.