Where do People Typically Hide Assets during Divorce?

If you are going through divorce, you know that matters of property division will come to the forefront in the near future. At that point, you will do whatever it takes to receive the property that you are entitled to.

But what happens if your soon to be former spouse hides assets during the divorce process? This is a concern for many. It is also one that can work against you if you don’t pinpoint the problem right away.

Here are a few things you should be aware of:

— Cash could be stashed in a safe, out of the way place, such as a safe deposit box at a local bank.

— Under-reported income on financial statements and tax returns.

— Overpaying creditors or the IRS. By doing so, your partner can receive a refund in the future.

— Defer salary, commission, and bonuses. A common trick, this ensures that the money is not included during divorce proceedings.

— Transfer stock. This entails the transfer of stock and/or other investment accounts to somebody else, such as a family member or business partner. Once the divorce is over, the person then asks that the assets be transferred back.

It is your hope that your partner is 100 percent honest during the divorce process, but you cannot assume this will be the case. If this person hides assets, it could work against you in the long run. It is important to understand how assets are often hidden during a divorce, as this will help you avoid a situation in which you are duped.

Source: Forbes, “Divorcing Women: Here’s Where Husbands Typically Hide Assets,” accessed April 18, 2016

Protect Your Money And Your Family

We remove fear associated with divorce, protect your money & maximize time with your kids!

We're here to help. Let's determine your best options.

Call Us 24//7 at 801-685-9999 to Speak with a Live Representative

Utah Divorce FAQs
Top 100 Divorce Blog
What Clients Are Saying…
BrownLaw icon
Excellent
Brown Family Law
Based on 997 reviews
Nick Schwarz, a fantastic attorney, incredibly knowledgeable and caring. Wonderful attitude with clients. Highly responsive, and acts quickly. Never leaves you hanging.
Daniel Young and Carren Leavitt were excellent to work with. It was a very difficult process for me on a personal level and they walked me through each step to a successful outcome I’m very happy with .
Response from the owner:Thank you so much. Glad we could help.
David Handy and his team were fantastic in helping me navigate custody time with my daughter. He gave the me reassurance and encouragement I needed with each step and I couldn't be more grateful to him! Thanks David!
I can’t recommend Nick Schwarz enough. He really cares about his clients, goes above and beyond to exceed expectations and he does extra research to offer insights no one else would think of. I’ve worked with him on several projects in the past and he’s always both very impressive and intrinsically creative. Would recommend him to anyone.
Nick Schwarz and I were colleagues and he is extremely thoughtful and cared about clients. He is an excellent attorney and an even better person. He will make an excellent addition to any case.
Dani is the best paralegal I know. Clear communication, professional, and intelligent.
Paul Waldron offers a competent and mindful approach to navigating family law. Thank you Paul for being an asset in our community that we can all depend on.
Truly so grateful for the care and expertise of Brown Family Law. (Specifically Carren and Daniel) I’ve been going through a really difficult time, and having legal support met with such kindness and understanding meant the world to me. They not only provided excellent guidance, but also made me feel seen and supported. I will always refer people here and am so grateful for the compassion I experienced.
I cannot recommend Attorney Nicholas Schwarz highly enough! He is extremely professional, responsive, and truly dedicated to his clients. What sets Nick apart is not only his deep knowledge of the law, but also the genuine care and compassion he shows for his clients. He takes the time to explain everything clearly, answer questions promptly, and make you feel supported throughout the entire process. If you’re looking for someone who will fight for you while keeping your best interests at heart, Nick is your person!
Nick Schwarz is an outstanding attorney who combines sharp legal skills with genuine care for his clients. He is professional, attentive, and deeply committed to helping families through challenging times. I highly recommend him.
yH5BAEAAAAALAAAAAABAAEAAAIBRAA7

Categories