Is My Spouse Hiding Assets from Our Divorce?

 Posted on December 12, 2023 in Adoption

Disclosing financial assets is an essential part of the divorce process. Both partners involved in a divorce will need to fully disclose their assets so property divisions and divorce agreements can be settled as fairly as possible. However, spouses may sometimes attempt to hide assets to prevent them from being shared. This creates issues forming divorce agreements and can lead to complex divorces.

A Texas divorce lawyer can help you figure out how to divide assets fairly and provide guidance if your spouse is hiding assets.

Signs Your Spouse Is Hiding Assets

Hiding assets involves:

• Gifting money to others who will return it after the divorce.
• Reporting lower amounts of income.
• Refusing to share financial information.

If you suspect your spouse is hiding assets, there are some signs you can keep an eye out for.

• Your spouse is especially generous and starts giving large amounts of money or other gifts to friends and family.
• Your spouse is going on shopping sprees and or is spending money uncharacteristically.
• Your spouse is keeping financial information from you or will not let you view specific financial reports.
• Your spouse is reporting sudden business losses that must be paid out of pocket.
• Your spouse indicates a general lack of income or lower overall assets than you remember them having.

There may be other indicators that your spouse is hiding assets. It is important to consult a divorce lawyer for advice on your next steps if you believe your spouse is attempting to hide assets or deprive you of a fair divorce agreement.

How Can I Find Hidden Assets in a Divorce?

Finding hidden assets in a divorce might be difficult, as your spouse may attempt to hide their assets in various ways. The assistance of a legal professional specializing in challenging divorces, Texas divorce law, and asset division can help, as can a financial accountant.

You may also need to request access to financial documents in the discovery process of your divorce, which allows you to view financial information your spouse may be keeping from you.

Contact a Travis County, TX Divorce Lawyer

The process of divorce is stressful, and figuring out whether or not your spouse is hiding assets can make divorce more complex. If you suspect your spouse is hiding assets or depriving you of information during your divorce, contact a seasoned Austin, TX divorce attorney at Powers Kerr & Rashidi, PLLC. Call 512-610-6199 for a consultation and to learn about your options.