Getting a divorce can have a long-term impact on your financial situation. As a way of limiting this, it is possible for someone to try to hide some of their assets so that they get the edge when all property and finances are divided.
If someone is successful in hiding assets, it can be severely unfair for their ex. This makes it very important to consider possible places where assets can be hidden if it seems like your ex is being untruthful with their financial disclosure.
While it may not be the most high-tech way to hide assets, it’s possible your partner found a good hiding place at home for financial documents like stock certificates, policy documents, or even just cash to be hidden.
Ruffling through some drawers and closets or under the mattress could help you discover something that can be important for your divorce case.
A spiteful spouse could use the time leading up to a divorce to try to funnel funds out of a joint account. Check your bank statements to find suspicious transfers or transactions that might be a front for your ex.
Try as they may, it’s difficult for anyone to manoeuvre funds or assets online without leaving some sort of trail. Investing the time in looking up their public record might expose some purchase or other dealings that they are using to shuffle some money around.
Whether it’s part of their business or if they suddenly have some expensive new purchases, it could be a sign that your ex is trying to hide money. Expensive goods can lower the amount in an account, giving you less, but then be flipped for cash after the divorce is finalized.
There are a number of ways that the finances of a business can be handled to favour one person over the other, such as holding back on collecting payment for large projects or taking on mysterious new hires, or making overpayments toward their tax accounts.
Dealing with hidden assets is a real issue, but tackling it in on your own can lead to spiralling paranoia and distrust. Your best bet is to get in touch with professionals who can help you uncover evidence.
Working with an experienced family lawyer gives you access to a legal professional who has seen it all and can recommend different places to check. Your lawyer can also give invaluable advice on third-party experts who can take a closer look at any financial misdeeds.
Having a healthy suspicion and a bit of persistence can pay off in the long run by ensuring that your financial rights are protected.