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How some spouses attempt to hide marital assets

On Behalf of | Nov 15, 2021 | Division of Assets |

Sneaky tactics are among the ways that a spouse resorts to when hiding assets from his or her partner. Disputes certainly arise among most spouses. However, sometimes, those disputes escalate leading to dirty and unethical behavior such as keeping assets – including marital assets – concealed and afar.

In trying to be crafty, a spouse may rely on the assistance of others to hide assets. If you suspect deception is taking place, you need to think like a forensic accountant in order to uncover these assets that rightfully belong to you.

Help from friends, relatives and employers

How is your spouse hiding assets? Here are some of the ways that it happens:

  • With the help of relatives and friends: These people may have the willingness to do provide favors to your spouse. Cash, Series EE savings bonds and investment certificates are among the assets relatives and friends may hide in their homes. Another surreptitious way: “repaying” non-existent debt to those relatives.
  • Questionable asset transfers: Such transfers get made to financial accounts that are in the names of friends, relatives and corporations. Another method is to transfer money into custodial accounts with ties to your children’s Social Security numbers.
  • Colluding with an employer: Perhaps your spouse will receive a significant monetary raise or expects a big bonus at the end of the quarter. He or she may make secret plans with the employer to postpone those developments until your divorce is final.
  • The dissipation of assets: A method that your spouse uses to shrink marital assets. He or she does this through excessive and unnecessary spending on things such as travel, gambling, controlled substances and during an extra-marital affair.

Such methods are not uncommon in certain cases where a spouse attempts to hide assets. By thinking like your spouse, you may be able to find these assets. You need more than luck to succeed, though.

Uncovering assets that belong to you

Devious behavior often is behind the hiding of marital assets. When attempting to track down these assets, it is a good idea to seek assistance from professionals such as a forensic account and an attorney. They likely have seen and known of every dirty trick in the hiding of marital assets. With their help, you may uncover them.