Guiding you through the complex, emotional legal issues facing you and your family.

A few ways an estranged spouse hides assets

On Behalf of | Oct 8, 2021 | Divorce

In less than amicable divorce situations, couples may attack each other from every direction. And one of those ways is hiding marital assets – the very assets that belong to each person in a marriage. In these scenarios, you must uncover these assets as best as you can. Your spouse is doing this so he or she does not have to share what rightfully belongs to you.

How do people hide assets from their spouses? There are many ways, and they usually rely on sneaky methods to accomplish this. How do you track down these assets? Think like your estranged spouse, do some research and find a reliable ally.

Shifting money to children’s accounts

Whether it is family, friends or even work supervisors, this group, sometimes, plays a role in hidden assets. Here are some of the ways to hide those assets:

  • Conspiring with relatives and friends. It turns out that your friends were really your spouse’s friends, and they may do just about anything for him. That includes stashing assets such as investment certificates, savings bonds and cash in their homes. They even may accept payments for non-existent debts from your spouse.
  • The transfer of assets into accounts of shell companies or in accounts in the names of family and friends.
  • Shifting money in the custodial accounts of your minor children.
  • With the cooperation of an employer, a person may seek to delay work-related raises and bonuses until the divorce process has concluded. Such a behind-the-scenes tactic is truly unscrupulous.
  • The surreptitious method of dissipating assets. Spending down your marital assets is something often done out of spite and may stem from an extra-marital affair. Methods may include the purchasing of gifts, travel expenses, apartment rental and even educational expenses.

Granted, these examples remain some of the ways that a spouse may attempt to hide assets from another. It is too bad that your marriage has come to this, though, and the secrets continue. Now, you must uncover some of those secrets.