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Is your spouse hiding assets?

On Behalf of | May 21, 2023 | Divorce

There are irreconcilable differences between you and your spouse so a divorce is on the horizon. In fact, you’ve started to take preparatory steps such as getting your financial documents in order. You’ve noticed some anomalies in the accounts and your spouse seems to be acting suspiciously.

In Washington state, marital property is typically divided 50-50 between spouses. Of course, this can only happen if all financial assets are disclosed during a divorce. Some spouses attempt to hide assets so that they receive more than their fair share after the divorce. Outlined below are a few signs that your spouse may be trying to do accomplish this aim.

Gifting assets to family members

Over the years, both you and your spouse have worked hard, which means you have been able to purchase lots of nice things. For instance, you have always had valuable cars. You are also both keen on art and have built up a valuable collection. When creating your inventory, you notice that some of the artworks are missing. Your spouse has also given a car to a younger relative who has just learned to drive. While it isn’t unusual to give family members gifts, the timing of your spouse gifting valuable items during divorce is suspicious. It could be a ploy to reclaim the assets once the divorce has concluded, meaning that you won’t get your fair share.

Crying poor

During your marriage, all of the financial accounts were shared. You also helped out with your spouse’s business. The divorce has meant that you have taken a backward step, but you were involved in the business for years and it was doing well. However, your spouse now claims that the company has fallen on hard times and isn’t making money. But, their lifestyle doesn’t seem to reflect this claim. Crying poor could be another attempt to conceal the true value of assets so that you do not obtain your fair share.

If you suspect that assets are being hidden, it’s important to act. Seeking legal guidance can help to uncover the truth and better ensure that you receive a fair divorce settlement.