Margaret Gettle Washburn, P.C.
(770) 676-1191
Habla español, por favor pregunte por la señorita Alex.

If you suspect your spouse of hiding assets, know your options

People can make some bad decisions when they feel like they are being cornered. This can often be seen when someone is going through a divorce. Angry, bitter spouses may say or do things they wouldn't normally do or say in less contentious situations. While this is certainly understandable, there is a line between making a bad decision and breaking the law.

In an article on our website titled, "Is your spouse hiding marital property?" we discussed the fact that many people try to hide money and assets during the divorce process. To be clear, hiding assets and falsifying information on court documents are illegal actions and can come with some severe consequences. If you have seen some red flags like those mentioned in our article, you should know what options you have to protect yourself and the marital assets that may rightfully be yours.

Information can be one of the best tools at your disposal if your spouse is hiding assets. You will want to be sure you track down any account statements, payment history, bills and other financial documentation that identifies where money is coming from and going. It can also be crucial to examine previous tax documents for inexplicable discrepancies, as well as retirement and investment accounts.

Keeping an eye on shared accounts and credit card spending in the months leading up to a divorce filing can be crucial as well. It is during this time when people may go buy extravagant items, transfer assets to friends or start siphoning money from one account into another that they may have kept secret.

As noted in this DailyFinance article, familiarizing yourself with your soon-to-be ex-spouse's employment relationships can also be a wise decision. Was there a recent promotion you didn't know about? Is he or she purposefully devaluing a business or leaving out information on upcoming bonuses or delayed payouts?

Of course it can be extremely complicated to follow up on red flags and sort through complex financial records on your own. This is why it can be a good idea to discuss your situation with a financial planner who can help you uncover hidden assets and an attorney who can help you pursue a fair settlement in your divorce.

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Margaret Gettle Washburn, P.C.
4799 Sugarloaf Pkwy
Building J
Lawrenceville, GA 30044

Phone: 770-676-1191
Fax: 770-963-2828
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