Is this a red flag for hidden assets?

On Behalf of | Oct 21, 2021 | Divorce

When going through a divorce, you want to aim for the best possible personal outcome. This includes division of assets, in which you always want to get your fair share. Unfortunately, some spouses may try to work things so that they get to keep more than they should.

In order to prevent this from happening, you should keep an eye out for signs that might indicate the presence of hidden assets.

Why do people hide assets?

Forbes discusses hiding assets during divorce, a more common problem than some may think. A spouse may try to hide assets for many different personal reasons, but the ultimate goal is to keep more than their fair share of assets when the judge divides them up.

Naturally, this will prove problematic to you, as you automatically have less to work with than you should have. This can make a financial recovery in the aftermath of divorce even harder than it would otherwise be. However, if you can prove that your spouse has hidden assets, you can take legal action against them.

Collecting needed evidence

The best way to prove this is through the collection of evidence, which you can do in a number of ways. Through a financial affidavit, you can collect financial information like bill statements, bank account information and more to make sure that the incoming and outgoing amounts of money match up. You can also keep an eye out for suspicious behavior that might indicate asset-hiding, like suddenly paying back unknown debts to family members or friends.

A forensic financial analyst can also help you to prove your accusations, too. You can get in touch with one through a family law attorney, who will know where to direct you.