November 4, 2022
Divorce is difficult on everyone involved, but sometimes people don’t handle it as well as they could. It’s understandable if a divorce makes someone act differently, but both parties should still be honest and respectful.
Some people might engage in dishonest conduct during a divorce by hiding or failing to disclose assets. There are reasons why someone might do this, such as wanting to get more out of the divorce or financially harming their ex.
Concealing assets during a divorce is illegal because it goes against the mandatory disclosure requirements. When a divorce begins, both spouses must share financial information, like bank statements, pay stubs, deeds, tax returns, etc. They are also required to file a financial affidavit, which under the penalty of perjury, attests to information such as a spouse’s assets, debts, income, and expenses.
If your spouse is hiding assets during your divorce, it can create serious legal problems. You may not be able to get a fair share of the assets if your spouse is not disclosing everything. It is important to consult with a family attorney if you think your spouse is hiding assets.
Read on to find out more about this complexity during a divorce:
Signs Your Spouse Could Be Hiding Assets from You
If you notice any of these signs, it’s important to speak with your attorney about what to do next:
- Your spouse is suddenly very protective of their financial information.
- Your spouse starts making large, unexplained withdrawals from joint accounts.
- Your spouse starts making large purchases without your knowledge.
- Your spouse starts transferring assets to a trust.
What You Can Do If You Have Reason to Believe Your Spouse Is Hiding Assets
If you suspect your spouse is hiding assets, there are a few things you can do to investigate. First, check for unusual activity in your joint bank accounts or credit cards. If you see any large withdrawals or transfers, you don’t recognize, this could signify that your spouse is trying to hide money.
Next, take a look at your joint tax returns. If you notice any discrepancies between what you reported and what your spouse reported, this could be another sign that assets are being hidden. Finally, you can ask your spouse about any assets you suspect they are hiding. If your spouse is unwilling to discuss the issue or is evasive in their answers, this could signify that there is something to hide.
If you believe your spouse is hiding assets, it’s vital to take action to protect your interests. You may want to consult with a lawyer to discuss your options and to help you gather evidence to support your case. Taking steps to uncover hidden assets can be complex and time-consuming, but it’s essential to do what you can to protect your financial interests.
Discovering that your spouse is hiding assets during your divorce can be devastating. This can lead to several problems, including a lack of financial stability and a feeling of betrayal. If you suspect that your spouse is hiding assets, you must speak to a divorce lawyer who can help you investigate the matter.
Dorsey Law JAX offers you the services of reliable Jacksonville family attorneys who can help you with your divorce, especially if you’re dealing with complications like a spouse hiding assets. Schedule your legal consultation with Dorsey Law JAX today!