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Clues that may indicate the hiding of marital assets in a divorce

On Behalf of | Feb 16, 2022 | Family Law

Divorce and wealth are a lot like oil and water—they do not mix well. In a typical scenario, the spouse with the most assets fears being taken advantage of, and the less wealthy spouse fears an unfair property settlement.

Unfortunately, these fears can cause a spouse to hide, or try to hide, some of their assets. The hiding of marital assets during an Alexander City, Alabama divorce is not only illegal—it is grossly unfair.

How can you tell if your spouse is hiding assets?

In some cases, you might never know whether your spouse resorted to this unlawful practice. However, if you believe it is possible or is already happening, look for the clues outlined below.

  •         The spouse is suddenly secretive about income and bank accounts
  •         The spouse abruptly reroutes or hides their mail
  •         The spouse starts making large withdrawals from joint accounts
  •         The spouse overpays debts or suddenly has new debts to pay
  •         The spouse “pays back” large cash loans to friends or family members
  •         The spouse claims their investments have decreased in value
  •         The spouse has one or more offshore financial accounts

If your spouse is skilled at sneaky behavior, it can be hard to notice any signs that they have squirreled away some assets. However, if you suspect that this is occurring, consider reporting your fears to a legal advocate. Law professionals know how to locate these assets and can help ensure that you get a final property settlement that is fair to both parties.

Learning more about divorce and property division in Alabama can also improve your odds of leaving your marriage with the marital property you deserve.