How To Tell If Your Spouse Is Hiding Assets During Your Arizona Divorce
Divorce & Hidden Assets: How To Spot Signs Of Deception During Divorce Proceedings
In Arizona, couples getting divorced must divulge all assets (including inheritances) and liabilities when filing for divorce. If one spouse is hiding assets or refusing to disclose them, this could create significant difficulties during the divorce process. Fortunately, asking the right questions can help you to determine whether your spouse is hiding assets or not.
In this article, a Gilbert divorce lawyer will explain some basic signs to determine if your spouse is hiding assets during the divorce process.
How Can You Tell If Your Spouse Is Hiding Assets?
These are red flags that a spouse may try to hide assets during a divorce to avoid dividing them with their ex-spouse. Be careful if:
Your Spouse Becomes Secretive About Money
During a divorce, a spouse may become naturally wary, but that behavior is not acceptable when it comes to community assets. If your spouse becomes overly secretive about finances, demand a full accounting of all assets. Don’t give in to a secretive spouse.
Your Spouse Deletes Programs From Your Computer
A spouse who manages finances can easily hide assets by uninstalling financial software such as QuickBooks from your computer. They may attribute the program’s deletion to a strange computer crash when, in fact, they deleted the program on purpose from the hard drive.
Your Spouse Adopts A Controlling & Defensive Posture
If your spouse insists on having full control over your bank account password and information, they may be hiding something from you.
They may unexpectedly question your spending but become defensive when you do the same.
Your Chandler divorce lawyer will probably warn you about this sign. Keep in mind that someone who isn’t hiding anything will be less defensive and more willing to share what they know.
Your Spouse Suddenly Becomes Generous To Family Members Or Friends
If your spouse becomes overly generous during your divorce or starts giving valuable assets or gifts to family members, friends, neighbors, etc., it could be a sign that they’re trying to hide assets from you. They may be keeping these assets from being divided during the divorce proceedings and will reclaim them once the divorce finishes.
Your Spouse Makes Strange Withdrawals Or Purchases From Your Joint Account
Be cautious if your previously financially-savvy spouse suddenly becomes a big spender. You can ask for clarification if you notice unusual withdrawals or purchases from your joint bank account.
Keep a close eye on your accounts and monitor them regularly for suspicious transactions. Confront your spouse about these unusual bank activities. You can confront your spouse directly or with a lawyer.
Your Spouse Travels Frequently To Other Countries
If your spouse makes frequent online transactions with a bank in another country or travels to countries with permissive banking laws, be suspicious and investigate.
You or your Avondale divorce lawyer can issue a subpoena to the bank that you suspect your spouse has accounts. This way, you can obtain all transaction records made in your spouse’s name.
Your Spouse Has A Personal Mailbox
If you discover that your spouse has a private mailbox or a different P.O. Box number, they may be receiving financial statements without your knowledge.
How To Uncover Hidden Assets
If you suspect your spouse is hiding assets, you must take action and uncover the truth. One way to do that is to request copies of all financial documents, including bank statements, tax returns, and investment portfolios. You may also hire a forensic accountant to review your spouse’s financial records and look for discrepancies or missing information.
Another way to uncover hidden assets is to conduct a lifestyle analysis. This analysis involves reviewing your spouse’s spending habits and comparing them to their reported income. If their expenses exceed their income, it’s a sign that they may be hiding assets. Additionally, you can request subpoenas for financial documents from banks, investment firms, or other institutions.
Legal Consequences Of Hiding Assets
Hiding assets during a divorce is illegal in Arizona and can lead to severe legal consequences. Your Glendale divorce lawyer can guide you with the best course of action if your spouse hides assets.
But generally speaking, if your spouse hides assets, they may be required to pay a fine, return the hidden assets, and pay your legal fees. Additionally, the court may award you a more substantial portion of the marital assets to make up for the hidden assets.
Finding An Experienced Divorce Lawyer In Mesa
During the divorce process, it is essential to take all necessary steps to safeguard what is rightfully yours. Hiring a skilled and experienced Mesa divorce lawyer can help you uncover hidden assets and ensure fair treatment in the property division.
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