The methods a spouse may use to hide assets from another

On Behalf of | Oct 7, 2021 | Property Division

The lack of trust led to the disintegration of your marriage. That mistrust lied dormant within your union for many years. However, you could not ignore it when you were together and even tried to overcome it through marital counseling sessions.

Now, you especially cannot ignore the mistrust of your estranged spouse while going through a divorce. It has been a tempestuous relationship that included bouts of lying, broken promises along with the theft and disappearance of assets. You know your estranged spouse, so you know his deceit likely includes hiding valuable assets that also belong to you. You now must discover the ways he or she hides those assets.

Friends, employers and deceit

You may have to think outside of the box when looking to uncover hidden assets that rightfully belong to you. Here are some of the ways in which spouses attempt to hide assets from each other:

  • With the help of friends and relatives. A friend or family member may willingly assist to ensure that things such as cash and investment certificates remain hidden. Family and friends may stash such assets in their own safe deposit boxes. In other instances, a spouse may “repay” phony debts to them.
  • The transfer of assets into accounts that include the names of relatives, friends and corporate entities. This is another surreptitious way to stash away assets.
  • The creation of custodial funds under your children’s social security numbers.
  • Transferring assets into pensions.
  • Colluding with employers to postpone work-related raises and bonuses until the completion of the divorce.
  • Expenses related to extra-marital affairs. The money may have been spent on lavish gifts, travel-related expenses, the renting of an apartment and even education costs.

Your marriage collapsed due to many factors. Distrust was among them. Your instincts tell you that your spouse hid many things from you when you were married. Among those things were assets. Do your best to track them down. A trustworthy family law attorney can provide support and advocacy through this sometimes surprising and difficult process.