What to Do if Your Spouse Is Hiding Assets or Lying About Their Finances During a Divorce

Marriage is a crucial part of a person’s life. It matters a lot to some, while some do not give it its due importance. Although it can be a beautiful relationship, marriages do not always work out. Often, the relationship based on mutual trust and support does not seem to work out because one of the people involved in the relationship stops putting in effort. 

As much as it is difficult to survive such relationships, selfish partners can also make the divorce process lengthy and painful. One of the issues couples usually face is that one person starts lying and hiding the assets.

While it is despicable and deplorable, there are ways through which you can get your due share and hold your partner accountable. If you are from San Bernardino, you can always rely on a strong San Bernardino family law firm in the area. This article will further tell you how you can counter such a situation. 

What Are Assets and How Can Anyone Hide Them?

One of the prerequisites of escalating a divorce process is declaring the assets made by both parties. It is possible that one of the parties may not disclose all the assets. The prime reason for this to occur is that the other party does not want to share the assets with their spouse. While such cases do occur, most of these are abundant in cases where one of the parties has a business or excellent net worth.

But how does one hide the assets? There are several ways through which you can hide your assets. As far as businesspersons are concerned, these people may hold their big deals and investments until the finalization of the divorce. This way, they save their money from sharing. 

Your spouse can also transfer your money to someone, disguise it as a charity or a gift, or hide it in an offshore account, and once the divorce is done, they can always retain their money or property back. They might have to pay for such an action, but that probably costs them much less than actually sharing half of the capital. 

Spouses also find new partners during the divorce process, which also does not let them share their property or money due to the new partner’s expenses. 

How Can You Find the Assets Your Spouse Is Hiding? 

While the hiding of assets is there and people do it, that does not mean that the other spouse won’t know about it. There are ways where you can find out if your spouse is hiding the assets from you or not.

People think that because they did not manage the money the spouse made, they can’t request for documents and proof of the properties. However, this doesn’t seem right. You can always ask for the property documents for clarification and to be on the safe side. 

Your San Bernardino family lawyer must be aware of various ways to locate the assets and properties – both hidden and unhidden. One way of doing it is getting in a detailed Q&A session with the authorities.

No matter how perfectly your spouse manages to conceal the assets, there is always a way to find it, and these detailed interrogations almost always work. This process is called divorce discovery. There are other options and forms too.

Penalty for Hiding Assets:

The penalties for hiding assets vary from state to state. In some cases, the spouse is jailed for some time, and in some cases, they are fined. The fines may vary according to the court decision and state laws. 

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