There are times when divorce is a necessary step couples must take in order to promote a better life between both parties. However, if a couple’s divorce includes high assets or no assets at all, the process can be financially and emotionally straining.
Are you going through a divorce? Do you suspect that your spouse may be hiding assets to get more than their fair share? You are not alone. In fact, research suggests that many Americans are guilty of hiding money from their spouses during the marriage. It stands to reason that they might continue hiding this money in divorce. Unfortunately, those hidden assets can leave one party disadvantaged, not just immediately after the divorce, but perhaps, for years to come. Learn how to minimize your risk and employ the following strategies and resources in your divorce case.
In many marriages, one spouse is primarily responsible for the household finances. The other spouse may have a vague idea of the income and expenses of the family, but is often unaware of many of the details. An arrangement of this type may work just fine when both partners are fully vested in the best interests of the marriage. If, however, the relationship deteriorates and divorce becomes a possibility, the spouse controlling the finances may start trying to take advantage of the situation by hiding assets.