Hiding assets in a divorce is more common than you might think. While the law requires that both spouses make complete and honest financial disclosures, spouses frequently try to cover up the truth. And the consequences are serious.
If your spouse is hiding assets in a divorce, you could end up with much less than you deserve in a divorce settlement. Your entire future could be affected. Here’s how to tell if your spouse is hiding assets in a Texas divorce.
Your Spouse Is Being Overly Secretive
It’s natural for spouses to pull back and communicate less during the divorce process. In fact, things can often get very tense. When your spouse seems to be going to great lengths to keep you from financial information, it can be a sign that they are hiding assets.
Here are some actions that should raise some red flags:
● Your spouse has always handled the finances, even when you wanted to take a role in managing them
● Your spouse refuses to share key information, like bank account numbers, tax returns and retirement account balances
● You discover evidence of a bank account you were never told about
● You discover that your spouse is keeping a separate post office box
● Information or computer programs have been deleted from the family computer
You’re Suddenly Seeing Big Financial Changes
When an account that has had a steady pattern of withdrawals and deposits for years suddenly shows signs of other activity, it could be evidence that your spouse is attempting to hide assets.
Dishonest spouses often try to hide marital assets by moving them to other bank accounts, kind of like a marital-asset shell game. The transactions may be concealing something else going on, like money going into a secret bank account or paying off debts or assets that were never disclosed.
There’s a Discrepancy Between Your Spouse’s Lifestyle and Their Claims
When an ex-spouse claims that they are unable to pay alimony or child support but takes exotic vacations, it may be a sign they are hiding assets. Dishonest spouses are often caught posting about their vacations on social media or pulling up to court in brand new cars.
If you are seeing your spouse with luxury goods that are beyond their claimed budget, it’s a good time to talk with a lawyer.
Get an Attorney’s Help With Hidden Assets
If you’re suspicious that your spouse may be hiding assets, talk with an experienced lawyer as soon as possible. At the Schneider Law Firm, P.C., based in Fort Worth, Texas, we can take immediate legal action to protect your financial future.
Our experienced lawyers also work with other professionals, including investigators and accountants to help protect our clients’ assets. To talk confidentially about your options, call us at 817-755-1852 or send us a message.