Is your spouse trying to hide assets that belong to you?
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Is your spouse trying to hide assets that belong to you?

On Behalf of | Mar 29, 2018 | Property Division |

Divorce is seldom easy, even when both spouses agree it’s best to go their separate ways. If you’re one of many spouses in Kentucky preparing for divorce proceedings at this time, you may have already overcome several challenges as you resolve various issues that arise. Perhaps your main concerns are parenting-related because, like most good parents, you want to shield your children from the negative implications of the situation.

However, if you’re concerned about financial matters, specifically, whether your spouse might be trying to deceive the court regarding assets and marital property, that’s a problem that may be difficult to resolve by yourself. The good news is that there are support resources available to help you rectify a hidden asset problem because, not only is such behavior mean and unfair, it also happens to be highly illegal.

Where to look to know for sure

There’s a big difference between suspecting your spouse of illegal behavior and being able to substantiate your claim. By doing some investigative work ahead of time, you can determine whether you truly have a hidden asset problem; after all, it’s only fair that you receive what is rightfully yours during property division proceedings. The following list provides tips for tracking down missing assets:

  • Many spouses trying to hide assets do so by stashing cash, stock certificates or other items around the house. If you think your spouse is trying to give you the short end of the property division stick, you might want to physically search your home by checking drawers, closets, underneath a mattress or anywhere it’s possible that your spouse might stuff some money or envelopes.
  • Advanced technology comes in handy in a lot of ways, and one of them is to help uncover a hidden asset problem. If you use an online public identity search tool, you may discover hidden profiles, aliases or other information that points toward your spouse’s hidden asset activity.
  • If your spouse suddenly opens a new bank account without your name on it, that’s a definite red flag that he or she may be hiding assets.

Another common way to keep assets from being subject to division is to transfer money or valuable items to other family members or friends. Your spouse may claim it is payment for a loan that occurred when, in fact, the other party is simply going to hold the assets until the court finalizes your divorce, then return them to your spouse.

How to stop a hidden asset problem

While you’d likely prefer to obtain your divorce decree in as swift and low-key a manner as possible, you also likely don’t just want to sit back and do nothing when someone is trying to keep you from getting what is rightfully yours.

This is why many Kentucky spouses and others throughout the nation request immediate legal support to rectify hidden asset problems. An experienced family law attorney knows just what to do to resolve such situations.