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Family and Divorce Law

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4 tactics your spouse may use to hide assets

Are you getting a divorce soon? If so, you may have concerns about the property division process. You should be aware that your spouse may try to hide assets to avoid fairly distributing assets. The law requires your spouse to disclose all assets during the divorce process, but some people try to lie in order to keep assets to themselves. 

According to Forbes, hiding assets is surprisingly common. But how can you tell if this is happening? Read below for some of the ways your spouse may try to lie about property, income or debts. 

1. Income

In order to prevent you from getting your fair share of spousal or child support, your spouse may report a mysterious reduction in income. He or she could also work with his or her manager to postpone a bonus or raise until the divorce is final. 

2. Expenses

Another shady tactic is to inflate expenses. Your spouse could purchase expensive antiques, art, jewelry or other items to easily sell after the divorce. He or she could also pay a phony debt to friends or family only to get it back later. 

3. Business

If your spouse owns a business, he or she could postpone expense reimbursement. Another strategy is to pre-pay suppliers only to get a refund later. He or she could also add friends or family to the payroll and have them pay the money back down the road. 

4. Assets

Your spouse may not want you to get ahold of some of his or her prized assets. He or she could report a sudden decrease in the value of assets or transfer assets to friends or family to get them back later. 

Getting a divorce always comes with frustrations and complications. However, it can be especially angering if your spouse tries to cheat you out of your fair share of marital property. Keep an eye out for these signs.

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With so many factors to consider, we understand that you have questions about the challenges ahead and the options available. We are here to answer any questions you may have about divorce and other family law matters. We have been representing clients throughout the greater Las Vegas area for over two decades, our Henderson family law attorneys are ready to provide you with the open and honest family law counsel you need to move forward with your life. Contact us today to find out more.

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