When you file for divorce, a big part of the process is dividing your marital assets. You and your spouse must list all debts and assets, which will then be divided and distributed based on your situation.
Unfortunately, not everyone is upfront and honest in these situations. Sometimes, your spouse may attempt to hide assets from you so they don’t have to be included in the divorce proceedings. Finding hidden assets will ensure you get a fair amount of marital assets.
Here are some of the ways spouses often try to hide assets:
New bank accounts
When filing for divorce, your spouse may attempt to hide money by opening new accounts that you don’t know about. Be sure to watch what comes in the mail and your email for correspondence or statements from unknown financial institutions. This indicates they may be hiding money from you and the divorce.
Overpaying credit cards
Another way your spouse may try to hide assets is by making overpayments to their credit cards. For example, if your credit card balance is $500 and your spouse pays $5,000, they don’t have to list that money in the divorce papers. Also, they will receive a refund of the money, and you won’t get any of it.
Digital assets
You can search online for evidence of hidden assets, too. Examples would be PayPal accounts or some other online account. Try looking through the “favorites” on your computer to see if there is evidence of digital accounts that are being hidden.
Making sure you get a fair portion of marital assets
If you are filing for divorce, it is important to take steps to ensure all assets are accounted for. This is the only way to get a fair portion of your marital property. Knowing your legal rights and options will help in these situations.