When going through divorce, every asset matters. Whether the property falls into marital or separate property categories, you must still report the assets in order to ensure that division proceedings move along as necessary. However, if you and your spouse have a complex financial situation due to considerable assets, you may worry about getting your fair share when it comes time to divide those assets.
Unfortunately, not everyone feels the need to utilize complete honesty while going through divorce. As a result, some parties may attempt to hide assets in hopes of coming out of the divorce facing fewer negative financial impacts. While those individuals may believe that such actions work to protect them, this unlawful tactic could cause many complications during a divorce.
If you suspect that your spouse may have hidden property, you may wish to look for these potential signs.
Lack of paper bank statements
Though many individuals often opt to conduct their banking online, if you and your spouse typically have paper copies of bank statements and financial transactions mailed to your home, a sudden lack of statement deliveries could act as a red flag. The possibility exists that your spouse may simply want to reduce waste by going paperless, but it could also point to an attempt by your spouse to hide sudden financial changes.
After years of marriage, you likely have considerable knowledge regarding your spouse’s income. As a result, you may notice if he or she suddenly starts bringing home less than the usual amount. This decrease could also help someone keep income out of divorce proceedings by deferring payments until a later time, like after divorce.
Another way to potentially hide funds until a later time involves making overpayments. For instance, if your spouse has more taxes taken out of paychecks, he or she will likely receive a larger refund during tax season. If tax season takes place after your divorce, he or she could obtain those overpaid funds without divorce consequences.
If your spouse owns a business, he or she may attempt to carry out certain business-related actions in order to hide assets. One way to utilize such a tactic could include seemingly paying new employees while not actually hiring any new workers. Additionally, certain actions could make a business look less valuable in hopes of ensuring you get less than a fair share of property.
Though you may suspect that your spouse has hidden assets, you may not have the means or know-how to discover those assets on your own. As a result, your asset division proceedings may prove less fruitful for you.
Luckily, you could consult with an experienced Georgia attorney to help you ensure that the division outcomes address all assets.