5 Ways Your Spouse May Be Hiding Assets
When divorce proceedings are contentious and involve bad blood on both sides, the division of assets can become an extremely volatile process. In order to adequately protect your rights and interests, it is essential that you have an accurate assessment of your marital assets, including all property held by your spouse.
In many divorces, a spouse may attempt to conceal or undervalue their assets in such a way that what appears to be an equitable division of your combined marital assets, in fact, heavily favors one party. If you suspect your spouse is attempting to undervalue or conceal assets during divorce proceedings, a skilled attorney may be able to expose their deceit. Contact an Austin divorce lawyer with Slater Kennon & Pugh, Ltd. LLC today by calling 512-472-2431 to learn more.
Hiding Assets
There are a wide variety of ways to conceal assets that you do not wish to be accounted for during divorce proceedings. The following are some of the more common strategies:
- Conspiring with an employer by putting off promotions, raises, bonuses, and other financial rewards until after the divorce proceedings are finalized and the income would no longer be considered joint property.
- Holding retirement accounts that you were never made aware of.
- Undervaluing or overlooking items such as artwork, antiques, and guns.
- Setting up a custodial account in the name of a child, and concealing funds in this account.
- Paying phony debts to friends that are returned following the finalization of the divorce.
A skilled attorney will have the means to detect and expose these strategies, helping you to receive a fair and equitable settlement.
Contact Us
If you are concerned that your spouse is attempting to conceal assets in order to achieve an unfair divorce settlement, an Austin divorce attorney with Slater Kennon & Pugh, Ltd. LLC can help you expose hidden assets and fight for a fair settlement. Call us today at 512-472-2431 to discuss the details of your case.