What are some ways that my spouse might hide marital assets?
In some marriages and divorces, a spouse attempts to hide, disguise, or undervalue marital assets in an effort to prevent the assets from being part of the division of property in a divorce. If you are seriously considering getting a divorce or you are already in the process of getting a divorce, it’s important to be aware of the many ways that a spouse can hide assets, including: • ·Retirement accounts that the spouse never revealed • A custodial account set up in the name of the spouse’s child, using the child’s social security number • Cash kept as travelers’ checks. Such checks may be traceable by following bank account deposits and withdrawals. • Income that is not reported on financial statements or tax returns • “Debt repayment” to a friend for a phony debt • Expenses paid for gifts, travel, rent, college tuition, etc. for a spouse’s girlfriend or boyfriend • Tools, hobby equipment, gun collections, antiques, and artwork may be undervalued or overlooked. Keep in mind that your s
