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Could your spouse be hiding assets?

On Behalf of | Mar 8, 2022 | Divorce & High Asset Divorce |

When both parties have come to the realization that the relationship is over, things can start to take a turn for the worst. Often, both spouses begin to feel bitter, which can turn divorce into a competition. 

When a divorce becomes adversarial, one spouse may start to try and bend the rules. In Connecticut, marital property is divided according to equitable distribution laws. This means that the court allocates property in a manner that it deems to be fair to all parties. For this to happen, both spouses need to be honest and provide full disclosure with regard to their finances. 

At times, one spouse may not be agreeable and could attempt to hide assets. So, how do you know if your spouse is trying to hide assets during your divorce? 

Have you been locked out of joint accounts?

During the marriage, you may have used joint accounts to hold and monitor your money. If you find that you are no longer able to access these accounts because your spouse changed the password, this could be a cause for concern. 

Being secretive is one of the first signs that your spouse may be moving money around. Keeping you from looking at the accounts could be a ploy to hide their actions. 

Has your spouse suddenly sold or given things away?

Perhaps your spouse had a collection of fine jewelry or artwork that you had always admired? As the divorce process commences, you notice that they are gifting these items to close family and friends. If this strikes you as odd, it could be a sign that your spouse is trying to prevent you from accessing the divorce settlement you deserve. 

Sometimes, an aggrieved former partner will gift out items with the intent of receiving them back once the divorce has been concluded – or even “sell” them to a relative (on paper).

You will have placed a lot of effort into your marriage and you should not walk away without the settlement you’re entitled to receive. As you navigate the divorce process, always remember your legal rights

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