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5 ways that a spouse attempts to hide marital assets

On Behalf of | Feb 2, 2023 | High-asset Divorce |

The trust eroded in your marriage long ago as you and your spouse have lived separate lives for several years. But you finally have had enough of your marriage. During this time, you have long-held suspicions of your spouse’s questionable financial dealings.

It is time to uncover them because you suspect that your spouse has millions in hidden assets. And a good portion of these assets belongs to you because they are marital property. But where do you look? And who can help?

Cryptocurrency and the help of friends and employers

Whether through personal deviousness or conspiring with others, your spouse may attempt to get away with hiding marital assets. Here are a few of the ways that he or she may do this:

  • Cryptocurrency: Some spouses choose to hide marital assets in cryptocurrency. And these digital assets sometimes prove to be an effective source to conceal their money stash.
  • Colluding with friends and relatives: Their loyalty may lie exclusively with your spouse. This group may willingly help him or her hide assets, including cash, investment certificates and savings bonds. In some cases, friends and relatives will accept “repayments” for loans that do not exist.
  • A secret agreement with employers: Your spouse’s employer may agree to delay a significant pay raise, job bonus or even promotion until the completion of the divorce.
  • Suspicious money transfers: Perhaps your spouse has transferred assets into an assortment of financial accounts held in the name of friends, relatives and companies. Your spouse may even stoop to placing assets into custodial accounts connected with your children.
  • Dissipation of assets: Anticipating the divorce, your spouse may have splurged money on a paramour, global travel, and gambling and drug addictions. This all figures into his or her plan to spend down your marital assets.

Combating such dishonesty will not be easy. However, with the help of an experienced and aggressive attorney along with the analytical skills of a forensic accountant, you will have a solid team in your corner.

Uncovering these assets that belong to you

The issues connected with divorce are many. Some are expected such as child custody, while others may be unexpected such as hiding marital assets. As marital property, these assets also belong to you. It may be a challenge to uncover hidden assets, but with the right professionals helping you, it can be done.

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