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Is your spouse up to no good in property division proceedings?

| Nov 1, 2019 | Uncategorized |

Many issues can have an impact on your children as you navigate the family justice system in divorce. When you filed a petition in a Virginia court, your highest priority was likely to try to move on in life in such a way that your kids would be able to adapt to a new lifestyle with as little stress as possible. Finances is often a big concern for parents who decide to sever marital ties.

Especially if you’ll be the custodial parent, you need to be able to provide for your children’s needs. The court may order your ex to pay child support. Property division proceedings will also have a significant impact on your post-divorce financial status, which is why it’s important to investigate further if you suspect that your spouse is trying to hide assets to keep you from getting money or property to which you may be entitled.

Signs that may alert you to a hidden asset problem

You definitely can ask your spouse about specific issues if you believe you are facing a hidden asset problem. It doesn’t necessarily guarantee you will receive an honest answer, though. After all, if someone is willing to do something illegal (which hiding assets happens to be), it’s not likely he or she will tell the truth if confronted. The following list includes red flag issues that definitely warrant further investigation if you suspect your spouse is hiding assets in divorce:

  • Perhaps, your spouse recently helped one of your kids open a junior bank account. This is actually a common means for hiding assets because the name of an adult must also be on the account, thus giving a parent easy access to make deposits or withdrawals.
  • Overpaying on taxes or a credit card balance is another way to stash cash when a spouse is trying to beat the system in property division proceedings.
  • Pretending to loan a relative or friend money or pretending to pay back a loan is another common tactic many spouses use when trying to keep from splitting assets in divorce.

Some spouses simply start stashing cash around the house or open a safety deposit box without adding their spouse’s name to the account. If you’re noticing behavior that you find suspicious and your spouse is providing sufficient explanation when you ask about it, it’s wise to trust your instincts.

Who can help?

If you ask a friend or family member about a supposed loan, he or she might feel guilty enough to tell you the truth. Then again, you might have to do some further digging to investigate the situation so that you can show the court evidence that you have a hidden asset problem on your hands. 

Many Virginia spouses hire private investigators to help or seek support by discussing their situations with attorneys who are well-versed in family law issues.