When going through a divorce, property division always creates a challenging hurdle. Even when everything goes as planned, it creates a high stress situation that can put a lot of pressure on both parties.
It is even worse when a spouse tries to hide assets, though. In order to ensure you have access to everything within your rights, you should know where to look for potential hidden assets.
Physically hidden cash
Forbes examines finding hidden assets in divorce. First, note that some people really do hide physical cash in locations at their home or workplace. Do you have a room in the house that you do not typically go to? Does your spouse have a desk, at-home office, gaming room or even lockbox or safe? It is possible they may use these places to hide away cash, removing it from records of assets and thus exempting that money from division.
Transferring cash assets to items
They may also hide their money in physical items. A common tactic involves purchasing expensive goods like electronics or vehicles with the intention of returning or selling these items after the divorce. While the court will subject money and non-physical assets to division, and may also divide property that you jointly used, they will often leave individually owned property (like these electronics or vehicles) alone.
Creating imaginary debt
Finally, they may hide assets in false debts. Keep an eye out for your spouse suddenly repaying supposedly owed debts, especially to family members and friends. They might work together so the other party holds onto this money until after the divorce, when your spouse will reclaim it.
Divorce can sometimes make people act in selfish or duplicitous ways. An experienced family law attorney has tools at their disposal to uncover assets a spouse may be trying to hide.