Let us review your legal matter 443-557-4153

During this time of social distancing, the Law Office of Marla Zide, LLC is offering both phone and video conferencing options for meetings and consultations. You will be able to contact us via phone during regular business hours to schedule.

KNOWLEDGE,
COMPASSION
AND STRENGTH

During this time of social distancing, the Law Office of Marla Zide, LLC is offering both phone and video conferencing options for meetings and consultations. You will be able to contact us via phone during regular business hours to schedule.

Is this a red flag of asset hiding?

On Behalf of | Jul 27, 2021 | divorce

When going through a divorce, it is important to present an accurate recording of your finances. The judge will use this to determine how to equally divide your assets. Unfortunately, some people will try their best to avoid this equal division.

They do so by hiding assets, thus throwing off their supposed net worth. Fortunately, they often leave behind a breadcrumb trail that you can follow to uncover them.

False debts and spending habit changes

Forbes takes a look at ways you can find hidden assets in divorce. First, there are some common tactics that many individuals will use. Two of the most popular involve paying back false debts and purchasing expensive items. In both cases, the overall goal is similar. For debts, a person will hand a friend or family member a large sum of money, claiming it is repayment. After the finalization of divorce, this person gives the money back.

In the case of increasing purchases, the goal involves buying big-ticket items that the buyer can resell or return after the finalization of divorce. This can include motorcycles, televisions, fine art, expensive clothing and more.

Terseness and anxiety with no explanation

You may also notice a change in behavior. A person can get into big trouble if caught hiding assets, so furtive and anxious behavior is normal. Does your spouse suddenly refuse to let you even look at their receipts? Will they no longer share record information of their finances? It could point to attempts at hiding assets.

If you have suspicions, consider seeking legal help. They can set you up with a forensic financial analyst, who can really dig into your spouse’s history to uncover hidden assets.