Divorce is going to bring significant financial changes to your life, and you will want to do everything possible to ensure that the terms of your final order are fair and reasonable. In order to accomplish this goal, it is critical that both spouses honestly complete the requirement of full financial disclosure. Inaccurate or incomplete disclosures can lead to an unfair financial settlement, leaving you without your fair share of marital property.
It is possible that a spouse may try to unfairly manipulate a property division settlement by hiding assets. This means that your spouse is intentionally trying to make it seem as if he or she earns less or has fewer valuable assets. This could affect the terms of your final order, leaving you with less than your rightful share of your shared assets. If you suspect that your spouse is hiding assets, there are steps you can take to protect your interests and fight for the best possible outcome.
Where are the assets?
A spouse could hide assets in multiple places, including bank accounts you don’t know about. He or she may gift or loan assets to others, having that person hold it until the divorce is final. It is not always immediately clear if hidden assets are an issue, but there are certain signs that may indicate that there is a problem. For example, a careful review of your tax returns may reveal discrepancies, including false deductions or listing an income amount that is less than what he or she truly earns.
Someone trying to hide assets may also simply deny that these assets exist. It can be difficult to determine the existence, location and value of hidden assets, but it is possible to do so through careful investigation and other steps. It may be possible to have a South Dakota court legally compel your spouse to reveal the pertinent information necessary to secure fair divorce terms.
Your financial future
During a divorce, your financial future is at stake. It is important to keep your focus on what truly matters long-term, which is your financial stability and security. Before you accept terms or make any decisions that could affect your future, it may be helpful to seek an assessment of your case and an understanding of what you can do to ensure you are able to claim your rightful share of all marital property.