During a high-asset divorce, your spouse may want to protect what they perceive to be their own assets from the divorce settlement. While there are legitimate ways to do that, some people choose to be deceitful.
If you suspect that your spouse may be hiding assets from the divorce proceedings, there may be indicators of their illegal behavior.
What are the signs that your spouse is hiding assets?
Hiding assets during a divorce is engaging in fraud. Some indicators of this illegal behavior may include:
Inflated business expense accounts that hide income that the spouse then stashes
Expenses that do not seem to match their reported income, indicating they have undisclosed income or assets
Excessively monitoring the mail or owning a personal P.O. box hints at secret financial documents and statements
Sole control over bank accounts or other financial instruments, creating an opportunity to hide funds
What should you do if you suspect your spouse is hiding assets during your divorce?
If you suspect that your spouse is hiding assets you should take immediate action:
Hire an expert, such as a forensic accountant, to help you uncover fraudulent activity or hidden sources of income
Take an accurate inventory of your assets to compare to the inventory your spouse submits
Use the discovery process to subpoena third parties, like banks and investment accounts, for statements and records
You are entitled to a fair settlement during your divorce that takes all marital assets into account. If you believe your spouse is hiding assets, you must take immediate action.