You want a divorce. Like all good parents in Virginia, you do not want your decision to file a petition to have a long-term, negative impact on your children’s lives. In fact, you no doubt hope to achieve a fair settlement in a swift, cost-effective and amicable fashion so you can leave the past behind and move on in life. However, hidden assets may impede the process.
Has your spouse made nasty comments about getting the upper hand in property division proceedings or seeing to it that you get the short end of the stick? If so, you might have a hidden asset problem on your hands. Many spouses try to stash cash or otherwise hide money or property so they don’t have to split it with a spouse in a divorce.
Where to look to uncover a hidden asset scheme
It’s understandable that you’d feel upset, frustrated or even betrayed if your spouse is willing to do something illegal rather than honestly disclose assets in order to achieve a fair settlement in divorce. The following list shows places to look if you suspect that your estranged spouse is trying secrete assets and keep them from the divorce settlement:
- If your spouse’s name is on a custodial account for one or more of your kids, it’s possible that he or she is depositing marital monies into the account to hide them.
- Have you noticed an overpayment on a credit card account or tax return? This is a common trick for hiding assets in divorce.
- If your spouse delayed a bonus payment from an employer or did not report bills for medical reimbursement, it might be part of a hidden asset scam.
- Did your spouse give money to a relative or friend, claiming to be making a loan or paying one back? If you weren’t aware of a loan, it’s worth an explanation. Does your spouse’s pay stub have an allocation of money to an undisclosed account?
There are many other ways to hide assets in a divorce. You might even want to do a search around your house to see if your spouse has hidden cash or stock certificates somewhere. If you believe he or she is not fully disclosing assets or liabilities, you may reach out for additional support to help you resolve the issue.
A family court judge isn’t going to like the idea that someone has tried to beat the system to keep marital property out of division proceedings. This type of behavior is illegal, so you should never hesitate to bring it to the court’s attention if you have evidence to prove your suspicion.