When going through a divorce, you will likely have quite a few potential hurdles to focus on. Some of them are more obvious than others. Some get more attention than others within the divorce community, too.
One such issue may present in the form of hidden assets. But what are hidden assets? Why may your spouse try to hide them? And what can you do about it?
Why do spouses hide assets?
Forbes looks at the action of hiding assets in divorce. There are many different reasons someone may try to hide assets. They can range from an individual feeling like they will not have enough to live otherwise, to a simple act of revenge. They may feel their spouse already has more than their “fair share” and try to take matters into their own hands by preventing their spouse from getting an equitable amount of assets.
How are assets hidden?
There are many ways to hide assets, too. Some common signs of hidden assets include a victim trying to pass off fake debt as real ones, or even pretending they are paying a fake employee. They may fudge numbers from cash-only transactions. They could even hide physical cash in places like their office or car.
A red flag for hidden assets is a spouse who shows extreme reluctance toward sharing their financial documents and information with you. They often fear that if you go through them with a fine-tooth comb, you will find signs that something is amiss.
If you believe your spouse is hiding assets, consider contacting a legal expert. They can help you prove if this is happening and get the share of assets you deserve.