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Is your spouse hiding assets?

Property division often ranks among the top contentious issues in a divorce. Some people, afraid that they will lose assets they feel entitled to, begin hiding them. In other cases, spouses are shocked to discover their soon-to-be-ex has been keeping financial secrets for years before the divorce.

Hiding assets often comes with several warning signs. Being on the lookout for red flags can help you preserve your interest in marital assets. A qualified divorce attorney can help you pursue legal recourse to get your fair share in the divorce.

Cutting off access to information

If you notice your spouse making an effort to keep you out of the financial loop, it is time for you to take an increased interest. Common signs include deleting or mysteriously "losing" drives with financial information, deleting personal finance programs, denying you access to your account information and keeping financial statements from you. Even if your spouse shoulders the bulk of responsibility for bill-paying and other financial transactions, you still should be able to view account statements and other information.

Claiming income has decreased

Spouses who plan to hide assets may preface their actions by claiming a reduced income. When faced with claims that the business is not doing well or there have been salary cuts, you may need to push further. A legitimate income reduction should be easy to back up with relevant paperwork. Refusal to do so can indicate a serious problem.

Pressuring you to sign documents

You probably already know not to sign documents you have not read. This is true even in a marital setting. When your spouse pushes papers at you with a vague explanation or none at all and pressures you to sign quickly, chances are he or she is trying to pull the wool over your eyes. Not only may this be an attempt to get you to give up your share in the assets, but you could also find yourself on the hook for money you did not borrow.

Hiding assets during a divorce is unlawful and can result in penalties during property division, but you will have to prove that your spouse engaged in this behavior. If you suspect something amiss with the marital finances, consult a knowledgeable attorney who can help you uncover the truth.

 

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Jamie Graham & Associates, PLLC
310 South St. Mary's Street Suite 2500
San Antonio, TX 78205

Phone: 210-764-3468
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