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Is my spouse hiding assets?

On Behalf of | Aug 8, 2018 | High Asset Divorce |

For couples going through a divorce in Missouri, disclosure of all assets is required by law. However, it’s not uncommon for spouses to hide assets from each other in an attempt to come out the process a little better off. Forbes explains how assets are commonly hidden and how you can track them down during your divorce.

Stock Transfers

If your spouse has any earnings in stocks, he or she may transfer them to a trusted source (such as a business partner or family member) as the divorce is ongoing. Once the divorce is complete stocks can then be transferred back to your spouse with neither you nor the court being aware. If the listing of assets your ex provides doesn’t jibe with his or her stock valuations, you may want to confer with your legal team.

Nonexistent Debt

Your ex may also claim to owe exorbitant amounts of money in loans courtesy of family members and friends. In this case the word of the lender may be sufficient to establish debt, which would decrease the number of assets being claimed. In this case, consider your spouse; is he or she the type of person who would take loans from loved ones? Was this a factor during your marriage? If not, chances are these debts are fabricated to hide assets.

Hidden Cash

Some people hiding assets prefer to go the old-fashioned route and simply store cash in a physical location. This could be a safe deposit box or even a place in your ex’s home where money would be secure. It can be a bit difficult to discover assets hidden this way, unless your ex has a habit of such behavior. You can also look out for suspicious behavior once the divorce is underway, and you can alert your attorney if you think anything is amiss.

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