4 common ways assets are hidden in a divorce

On Behalf of | Dec 23, 2022 | Family Law |

Are you worried that your spouse did not disclose all their assets in the divorce paperwork? If so, you may wonder how to find the ones they did not list. 

Unfortunately, hidden assets are not uncommon in a divorce, and knowing where hidden assets may be is beneficial if you want to get a fair split of your marital assets. Here are some common ways people try to hide their money:

1. Hiding assets in offshore accounts

Have you noticed statements coming in the mail or even laying around the house from financial institutions you don’t recognize? Are there banks in the Cayman Islands or Swiss banks? If so, this is an all-too-common method of hiding money to ensure it is not part of a divorce process. 

2. Cryptocurrency

More people are purchasing cryptocurrency as a method of hiding assets too. One of the main reasons this works is that cryptocurrency is still not well understood. While finding money in the bank is not that difficult, it is more challenging to track down funds that are being stored in the cloud. 

3. Items around your house

Sometimes, your spouse may try to hide money from you in your house. They may purchase artwork worth more than they say or even hide cash somewhere so it cannot be tracked. 

4. Overpaying bills

It is possible for your spouse to overpay a credit card, or another bill, to hide money, too. For example, if the balance on your credit card is $500, but your spouse overpays $5,000, they will receive a refund for the overpaid amount after the divorce is finalized. 

Protecting your rights to marital assets

You have legal options if you believe your spouse may be hiding assets. With help, you can find these hidden assets and ensure they are included in the divorce. 

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