You’re getting a divorce. And while you’ve realized that this is the right decision, you can’t help but think your soon-to-be former spouse is hiding money. Maybe they’re not depositing their paychecks as often as they used to, or the amounts they deposit seem smaller than usual. Perhaps you noticed bank statements arriving in the mail from institutions you don’t deal with. It could be nothing — that’s what you keep telling yourself. But something doesn’t feel right. You even wonder, “Is this normal, or is it illegal to hide money in a divorce?”
The answer is that a party absolutely cannot hide assets during a divorce. If you suspect this is happening, you should tell your family law attorney so they can move forward with a discovery request or hire an to look into financial records, bank accounts, property, etc.
It could be that those searches come up empty, and everything is on the up and up.
But if they find something, you’ll be glad you had them check.
Red Flags That Your Spouse Might Be Hiding Money
- Unexplained cash withdrawals or expensive purchases
- Concealing/misrepresenting income or hiding cash
- New credit card or bank statements in the mail
- Suspicious business activity
- Randomly gifting money to family and friends
- Complaining about bad investments
The consequences of hiding assets in a divorce can be pretty significant. The judge overseeing your divorce could potentially award you a more significant share of the community estate or force your spouse to surrender ownership of certain property as a result.
How Can I Figure Out If My Spouse Is Hiding Money?
The first step is to rely on your intuition. Could you be wrong? Absolutely. But it’s better to look a little deeper into your shared financial situation if you have any concerns that your spouse might be hiding money or assets.
Digging deeper might include the following:
- Familiarize yourself with your household financial situation to gain a baseline understanding of what exists, where, and how much.
- Request copies of all financial records (tax records, loan documents, bank account statements, etc.).
- Talk to your CPA and have them do an audit of your financials to see if anything is out of the ordinary.
- Consider hiring a forensic accountant.
- Keep a journal of your findings to share with your attorney and the Court.
Christman | Daniell, has a unique and refreshing approach to the often turbulent and emotionally stressful disputes arising in the context of divorce, child custody, and other family law cases. Our firm anchors its representation and legal advice in principles and philosophies that focus on the long-term best interests of children and families. We are committed to supporting and guiding you through the dark days of marital discord and crisis.
Please call Christman | Daniell for your legal needs today!
Looking for family law services in Collin County, Texas? Christman | Daniell is your premier choice. With years of experience and a deep understanding of the legal landscape, our skilled team is dedicated to helping families navigate complex legal matters. Whether it’s divorce, child custody, or adoption, trust Christman | Daniell to provide compassionate and effective representation for all your family law needs throughout Collin County.