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What are ways my spouse might be hiding money from me? Pt. 1

If you are contemplating or going through a divorce this time of year, you are doing so with the dazzle of the holidays around you. During this season, money tends to be on the mind because of the cost of parties and gifts. Wouldn’t we all love to afford to give our loved ones their hearts’ desires?

Having money on your mind can help result in a fair divorce settlement for you. Financial focus should be thorough and involve something that many might not be used to: suspicion. Are you someone who has given into suspicion during your marriage? Whether you are or not, a sleuth-like mode of operating during your divorce can help get you what you really deserve in terms of financial justice.

Money is often named as a primary reason why couples divorce. Maybe there is a difference in spending habits or financial priorities. Maybe you went into the marriage not knowing the full scope of your spouse’s debt and unhealthy money habits. Especially if you have a reason to doubt your partner’s honesty, consider the potential that he or she might try to hide assets from you in the divorce.

The Huffington Post lists the following as just some of the many ways an estranged spouse might try to unethically shield marital assets from you:

Transferring assets: Your ex could take this relatively simple route of taking money from a joint account and putting it into an account of which you are unaware. This could be a new account your ex opens or even the account of a friend or family member who might be helping in the concealment.

Falsifying expenses: Does your ex own his or her own business? If they do, it can be easier for them to get creative regarding the expenses of running their business. Make sure you have an experienced set of eyes looking at all financial documents in order to flag any questionable expenses your ex might list.

Sparkman Law has experience uncovering the truth and, therefore, what is fair, in complex and high-asset property division matters. An upcoming post will list more methods that some try to utilize in order to try to get out of a marriage with more than they are legally entitled to.

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Tampa, FL 33609
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