Is your spouse hiding assets?

| Apr 27, 2021 | Divorce, Property Division |

When a married couple divorces in Georgia, wealth and assets acquired during the course of the marriage are to be divided between the spouses. Unfortunately, some people can’t simply part with their fair share of the marital estate. They hide assets, underreport income and otherwise try to cheat the system, to the other’s spouse’s detriment. Following are a few red flags that your soon-to-be ex may be up to something:

  • You’ve lost access to accounts: Have the passwords in your online banking accounts been changed without you knowing about it? Have bank statements and other financial information stopped appearing in the mail? If you are being shut out of information that affects your finances, it’s time to have a frank discussion with your spouse or talk to an attorney.
  • You’re being pressured to sign documents: No one likes having documents shoved in their face and being asked to quickly sign them before understanding what they are. With a divorce looming, this is an especially troublesome situation and might be a sign your spouse is trying to get away with something.
  • The side business is suddenly failing: If your spouse’s side business, which was bringing in solid income when the marriage was going well, is suddenly hurting now that divorce is approaching, it may be a sign he or she does not want that income recorded in property division proceedings.
  • Mysterious debts become a priority: Has your spouse suddenly become interested in paying off old debts you didn’t even know about? This may simply be his or her way of diverting funds to an ally in an attempt to keep them out of the divorce.

Remember, red flags only warnings signs, so it is important not to jump to conclusions too soon. To get to the bottom of things, and to protect your own financial future, talk with an experienced divorce lawyer who is well versed in the tactics people use to hide assets and income in a divorce.