One of the most important legal steps in a divorce is a fair and equitable division of marital property. In order to do so, both spouses must commit to an honest disclosure of all their assets, earnings, and debt. In California, community property – that is, property owned equally by both spouses – must be divided equally. In an amicable divorce, both parties are usually able to reach an agreement with regards to how property and personal items should be distributed. If they are not able to do so, they can submit the dispute to the court where a judge will decide how the matrimonial assets should be divided.
In California, property acquired during the time of marriage becomes community property to which both spouses have equal claim, with a few exceptions. That’s why, in a divorce, one spouse may try to conceal some of their assets in order to keep a bigger share of the community property after a divorce. Are you suspecting this is what your spouse may be trying to do? Surprisingly, this illegal practice is more common than many people think. In this article, we will explore 3 red flags that may indicate your partners is hiding assets to obtain a better settlement in a divorce.
You Notice Your Spouse’s Defensive Behavior
One of the first red flags that you may notice relates to a change in your spouse’s behavior and demeanor especially when the subject of money comes up. For example, whenever you ask about the family’s finances, your spouse becomes irritable, defensive, or outright aggressive. You may have also noticed that your spouse has become much more controlling about the finances than before. All such behavioral changes may be the first symptoms indicating that your spouse may want to try to hide some of the assets in an upcoming divorce.
You Find Money Stashed in Secretive Locations
Stashing cash is one of the most popular ways of hiding assets. Of course, some people may have a habit of saving money in a box or a jar hidden in a specific place in the house. However, if that’s not one of your spouse’s typical financial behaviors and you start discovering money stashed in or around your home, it may mean he or she is trying to conceal assets in cash. Alternatively, your spouse may use a third party to open a new account and transfer some of their funds to it in order to conceal the true ownership of the assets.
You Can’t Seem to Find Important Financial Statements
Another tell-tale sign of dishonest activity on the part of your spouse is missing financial statements. For example, if important monthly financial documents such as bank account statements used to be mailed to your house but are suddenly discontinued, it may mean your spouse may be trying to conceal some money or movement of assets between the accounts. You should be wary of this dirty tactic and confront them about it.
Is Your Spouse Concealing Assets in a Divorce? Contact Grey Legal Group, APC
If you are suspecting that your spouse may be concealing assets to obtain a better settlement in a divorce, or even if you have some evidence of such a dishonest behavior, you may be at a loss with regards to how to proceed. However, the best course of action in such a situation would be to contact an experienced divorce lawyer and review your circumstances together. The attorneys at The Grey Legal Group, APC have ample experience in dealing with dishonest spouses trying to conceal their assets. Contact us today and together let’s work out an effective solution to your legal predicament.
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