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Monday, October 17, 2016

Signs That Your Spouse Is Trying To Hide Assets in a Divorce

One of the most important components of any divorce is the distribution of assets between spouses. In order to reach a fair distribution, each spouse must disclose all of their assets. However, many spouses will not be so forthright and attempt to hide some of their assets. Here are some prime indicators that indicate your spouse is attempting to hide assets in a divorce.

Living Expenses

Take a tally of your monthly living expenses and then add up your monthly income along with your spouse’s monthly income. Compare the two numbers and then see what your spouse reports when it is time for negotiating. If the numbers do not match up, chances are your spouse is attempting to hide some monthly income and it is time to consult with a divorce attorney in Charlotte NC.

Stock Transfers

Married couples sometimes accumulate stock over the years and when their financial portfolio expands, it is difficult to keep track of everything. A simple stock transfer could get lost in all that is going on. So make it a point to check every one of your stocks for any suspicious transfers.

Safe Deposit Box

This is a prime place to hide any type of valuables or other important documents or funds. If your spouse suddenly obtains a safe deposit box, it usually means it is being used to hold something you are not supposed to see.


New Custodial Bank Account

If a bank account in your child’s name suddenly surfaces, that could be a sign that your spouse is attempting to hide some money. And if such an account already exists, it could still be used for the same purposes. Look deeper into the recent deposits that went into any custodial accounts.

Salary Deferment

Some spouses will go as far as to defer their salary or withhold any upcoming commissions until their divorce is finalized. If there are no paychecks coming in, it is a definite sign that your spouse is being evasive.

Debt Reporting

It’s not uncommon for divorcing spouses to begin reporting false debt. Any new debt reported by your spouse should be looked into with a very skeptical eye. This could also be an infraction on numerous levels.

If you are seeking fair and equitable distribution of assets during a divorce, contact the family law attorneys at Southpark Family Law. They have years of experience helping spouses through all kinds of divorce. A Southpark family law attorney can help ease you through this process and assist with everything from a distribution of assets to child custody and child support.