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5 ways that a spouse attempts to hide assets

On Behalf of | Mar 15, 2023 | Asset Division |

Sneaky and covert tactics in divorce are not unheard of involving separated spouses. One of those tactics includes attempting to hide marital assets. A spouse may have suspicions, but not the proof.

However, keeping a watchful and receiving the guidance of certain professionals – and attorney and an accountant, you just may find where your spouse has stashed those assets that also belong to you.

Through friends and cryptocurrency

A person who attempts to hide marital assets may resort to some surreptitious methods. They may include:

  • Scheming with friends and relatives: Hiding assets such as cash, savings bonds and broker-issued investment certificates with friends and relatives happens. This group has loyalty to your spouse and also may hide cash by accepting payments for debts that do not exist.
  • Transferring funds into your minor children’s accounts: In a way, this is a “shell game,” trying to determine where to find these assets.
  • Colluding with an employer: That long-expected bonus may not surface until the divorce is final. Same goes for the promotion that includes a much higher pay rate.
  • Cryptocurrency: This has become an increasingly popular place to hide marital assets.
  • The dissipation of assets: Excessive spending on global travel, gifts and rent may be signs that your spouse is spending money on a lover. Another method may be to secretly purchase a car and then sell it immediately after the divorce.

It may be difficult to track down these assets. However, it is possible. A knowledgeable divorce attorney with the help of a forensic accountant has the skills to do so.

Uncovering those assets

In certain divorce cases, including those involving high-asset divorce, hiding marital assets represents a way for a vengeful spouse to get back at the other. Keep your eyes and ears open. It just may help you uncover those assets.