5 Ways an Untrustworthy Spouse Can Attempt to Hide Assets
Posted on: August 24, 2022
Divorce is more times than not a strenuous time that can cause harsh realities as hidden truths are unveiled. Sometimes, individuals try to keep certain assets secret so that it doesn’t need to be split between the two. This duplicitous behavior is fueled off the need to scheme their way to maintaining control of what they either deem their property or simply don’t want to share.
Here at Law Office of Michael L. Fell, our expert Family Law Attorney Michelle L. Tran will fight for what you believe is fair in the asset division during a divorce. Call (949) 585-9055 today to schedule a free consultation, or you can easily schedule one online.
Continue reading to unveil ways untrustworthy spouses can attempt to hide assets.
Receiving help from family and friends
Your soon to be ex-spouse can easily turn to seek help from their family or friends as they typically have loyalty to them, not you. Whether that is hiding cash or other assets, they can safe guard them for the person attempting to hide them.
Their employer can assist them
In the asset division process, all financial information is brought to the table for even distribution. If an individual is up for a raise at their job, they might tell the employer to hold off until the divorce agreements are done so they don’t have to pay more.
Overpaying their taxes
An easy trick is to purposefully overpay their taxes. They can hide a certain amount of money this way because the IRS will take some time to reimburse them. The overpayment is also typically unknown to the other spouse.
Using children’s Social Security numbers
Using their child’s social security number, they can store money in hidden accounts. The thought process behind this is that once the divorce agreements have concluded, they can easily empty the accounts to reclaim the hidden cash.
Purchasing items with hidden value
If your estranged spouse went on a bit of a shopping spree before the divorce hearings, analyze what items were purchased. Sometimes people like to buy items with hidden value that might be missed in the asset division. Items like artwork, antiques, guns, sports memorabilia, and rare coins.
Get the help you need today
Here at the Family Law Offices of Michael L. Fell, our specialist Attorney Michelle L. Tran is an expert at handling divorce cases. If you need fair representation for your asset division, call (949) 585-9055 to schedule a free consultation. Feel free to conveniently book one online as well. We provide compassionate and effective representation in ALL Family Law matters.
