Can you stop your spouse from hiding assets during your divorce?

Can you stop your spouse from hiding assets during your divorce?

On Behalf of | Jan 25, 2022 | Divorce |

Financial disagreements often lead to divorce. In fact, according to reporting from Market Watch, having frequent money-related arguments is a better indicator of divorce risk than having disagreements about virtually anything else.

If your financial disputes stem from not having enough money, your soon-to-be ex-spouse may try to cheat you during your divorce. Specifically, to gain an unfair advantage, your husband or wife may hide marital assets until after your divorce concludes.

You are not powerless

Both you and your spouse have a legal obligation to make certain financial disclosures as part of the divorce process. Because you make these disclosures under the penalty of perjury, it is important to complete them truthfully. If your spouse fails to do so, you must remember you are not powerless.

There are many ways to uncover hidden assets. For example, you may choose to work with an accounting professional to review bank statements and other financial records. Hiring a private investigator also may be helpful.

Naturally, your divorce attorney can explain which financial and other professionals are likely to be a good fit for your divorce team.

You may receive the hidden assets

Judges in California have little patience for spouses who hide assets. If you discover your spouse is being untruthful about financial matters, a judge may award the hidden assets to you. Your spouse also may have to pay financial penalties for trying to stash marital wealth. Furthermore, you can expect the judge in your case to consider holding your husband or wife in contempt of court.

Ultimately, because you deserve your rightful share of everything you and your spouse own, any effort you spend trying to find missing assets is likely to be worthwhile.