When going through divorce, it is important for both spouses to be as honest as possible with all matters, especially assets and finances. If your ex-spouse decides to lie about their assets – or worse yet, attempt to hide them – what can you do?
Fortunately, there are ways for you to combat hidden assets and work toward getting the fair share you deserve.
Falsifying repaid debts
Forbes takes a look at the way spouses may hide assets. Some tactics have a high rate of popularity and see more use than others. An example of one includes pretending to pay off debts. In this scenario, your ex-spouse may give a large sum of money to a friend or family member, claiming that they owe a debt to the person. However, after the finalization of the divorce, they will get the money back from this individual and it will remain exempt from asset division.
Changes in spending
Take a look at their financial spending habits, too. Have they been buying more expensive items lately, like fine art, instruments, game systems and other electronics? If so, they may plan to sell or return these items after the divorce to get the money back. In the meantime, since the item they own is a personal possession, it will often stay exempt from asset division.
You may find it tricky locating proof of asset hiding. Thus, consider working with a legal expert and a forensic financial analyst in order to dig up the truth. Analysts can locate incriminating financial information and legal aid will help you determine what to do once you have it.