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Do you suspect that your spouse is trying to hide assets?

| Oct 3, 2019 | Uncategorized

Divorce is a complex process, and not all Alaska couples are able to walk through this process amicably. In fact, you may be facing the prospect of a divorce that is sure to bring battles over marital property and other complicated matters. One of these issues may be the possibility of hidden assets.

Sometimes, one spouse may hide certain assets in order to retain more than his or her fair share of marital property. The motivation for this may be greed, or it may be the result of a desire to enact revenge against the other party. Whatever the reason, it is your right to fight back and discover the truth if you suspect your spouse is doing this. Your financial future is on the line, but there are steps you can take to protect your long-term interests.

Playing hide-and-seek with your money 

If you think your spouse is trying to be unfair and get more money out of the financial settlement, you do not have to sit by and hope for the best. There are things you can do to pursue a strong and stable financial future. One of the first steps will be to confirm your suspicions. It is not always easy to find hidden assets, but some of the tell-tale signs that something could be wrong or there are assets hidden somewhere include:

  • Your spouse is denying the existence of an asset that you know is there.
  • There is evidence that your spouse transferred the asset to a third party for holding until after the divorce is final.
  • Your spouse is claiming the loss of a certain asset.
  • Your spouse created false debt to make his or her financial situation seem worse than it is in reality. 

It’s not always easy to find definitive evidence that untoward activities have been taking place, but there is usually a paper trail. Looking at past tax returns, bank statements and other things can help. Some people may find it useful to speak with a financial expert, such as a forensic accountant, about the problem.

You don’t have to fight alone 

The terms of your final divorce order matter. If you suspect hidden assets, it is worthwhile to fight back and seek a final order that includes a fair division of all marital assets. You don’t have to do this alone, but instead, you will find it beneficial to seek the guidance of an experienced legal advocate about how you can uncover all assets and move forward.