Couples who file for a
divorce do so for a variety of reasons, many times they have fallen out of love
or are ready to move on. While some divorces may be a smooth process for
the most part, other divorces can be rather difficult, especially when
your spouse is trying to hide assets from you. A huge concern with this
topic is that if your spouse is hiding assets from you, does that mean
you will not receive what you actually deserve in the divorce settlement?
Having a strong divorce attorney on your side is going to be the most
important decision you make when considering a divorce. At Hutchinson
Law we are experienced in the area of divorce and family law, we understand
that a legal divorce is not just signing one paper and calling it a day,
but rather it is a process that can be done well with the guidance of
a practiced attorney.
First off, it is important to understand that the act of concealing your
assets is not only wrong and unethical for the other spouse, but by law
it is considered to be an illegal act. If convicted in court for concealing
assets, the individual could be facing some serious consequences depending
on the judge presiding over the case. In many situations, a judge can
force the spouse to hand over to their ex the entirety of the assets they
were seeking to conceal as a form of punishment for their crime. Unfortunately
for some people, knowing the consequences of the law is not enough and
the act is still committed. Here are a few tips to consider if you are
planning on a divorce in order to prepare yourself to be on the lookout
for those hidden assets. Within any given marriage, no matter their income,
there are going to be a variety of assets involved. This includes cars,
properties, bank accounts, benefit or retirement plans, life insurance,
stock, etc. Even happily married couples have a difficult time managing
all of their different bank accounts and investments, going through a
divorce only makes that more difficult.
Having your spouse attempt to conceal your assets is not a situation that
one would like to deal with in the future; however, if you are considering
a divorce, being knowledgeable about the possibilities now may just save
you a few of your pennies down the road. Married couples are considered
to be a team as they share just about everything together, and yet usually
there is one spouse who controls the finances for a variety of reasons.
It may be that one spouse is not good with numbers; one works less and
therefore has time to manage the accounts, etc. Whatever the case may
be in your home, one of the steps that you can take to prepare yourself
is to make sure you thoroughly know your banking accounts, and where your
money is; all of it.
There are many signs that a spouse can be aware of when they are filing
for divorce, working with a divorce lawyer will help you be aware of these
signs and know what legal steps of action that you should take as a response.
When planning to divide the assets in a divorce, an analysis will be taken
to determine each spouse’s standard of living in order to determine
things like alimony or child support, and in many situations this process
can help uncover those hidden assets your spouse has been concealing from
you. If you are suspicious of your spouse in any way, there are obvious
signs you can look for, but it is essential to know that snooping into
their private emails or documents can get you into trouble with the law
down the road, it’s just not worth it, talk to your lawyer about
your concerns instead.
If you are noticing that perhaps your spouse is underreporting on taxes,
overpaying creditors, involved in false debt scams, deferring their salary
or bonuses so that they don’t show up on the record, and more can
be just a few signs that something is not right with how your spouse is
handling money. There are many possible schemes that your spouse can do
in order to hide money from you until your divorce is final and then bring
it back as though nothing ever happened. This can happen when a person
creates false debt that they “owe” another person, usually
a trusted friend, in which they make payments to them and then after the
divorce receive the money back in full leaving their ex in the dust.
Being knowledgeable of your finances in your marriage, and in the period
of your divorce is essential, because no spouse deserves to be cheated
from what they deserve in their divorce settlements! Protecting your assets
in a divorce is an important part of your separation, you want to make
sure that you not only receive what you deserve when you split, but also
that it was fair in regards to all of your assets, don’t let your
spouse walk all over you; with the help of an experienced attorney we
can fight to make sure that everything is put out on the table when you
and your spouse make your settlements for divorce.
Contact Hutchinson Law today for the experienced divorce attorney that you deserve!