Texan residents like you who are going through a divorce that involves numerous or complex assets may have even more of a reason to keep a close eye on where the money is. We at Laura Dale & Associates, will discuss how situations like yours can lend themselves to spouses being able to hide assets with greater ease.
Unfortunately, the more assets you have to work with, the easier it is for people with bad intentions to sneak things past your radar. For example, if you are already dealing with the division of multiple properties, vehicles, or bank accounts with large amounts in them, you are less likely to notice if your spouse has stopped reporting financial information for smaller accounts.
Another tactic a spouse may use is to temporarily transfer money. For example, they may say they are paying back a “debt” owed to a friend or family member. However, they actually intend to get that money back after the divorce process has finished. They may also start buying cars, jewelry, pieces of art, and other expensive items that could later be sold to make back the costs. Finally, a spouse may hide income by underreporting their earnings.
If you have reason to believe that your spouse is attempting to hide assets from you during the process of your divorce, consider contacting an attorney. They can help you get your fair share of assets and unveil any tricky maneuvers your spouse is trying to pull. Take a look at our web page on high asset divorce for more information.