Steps to Take if Your Spouse is Concealing Assets

If you’re going through a divorce, you might be concerned about your financial future. This is understandable, especially since statistics show that spouses tend to encounter economic pressures after leaving their marriages. This is especially true with women. These concerns can become even more serious if your spouse is concealing assets. But what can you do in this situation? What steps do you need to take in order to deal with this situation in the best possible way? Let’s find out:

Speak with a Lawyer

Your first step should be to speak with a lawyer. Even if have a very slight suspicion that your spouse is concealing assets, it’s worth getting in touch with a legal professional and making them aware of your concerns. Your attorney can look into the matter and confirm (or deny) your suspicions.

Look for Common Signs

Once you’ve expressed these concerns to your lawyer, you can keep a watchful eye out for a number of common signs. These might include new vehicles, payments with cash, opening accounts in other peoples’ names, or a sudden pay rise or increase in their standard of living. You should also be wary if your spouse has any experience with cryptocurrency, as this type of asset is relatively easy to conceal.

Consider Getting Help from a Forensic Accountant

As the name suggests, a forensic accountant looks at your financial situation in the same way as a detective looks at a crime scene. They are very skilled at tracking down loose ends and making sure everything adds up. If you are seriously concerned about concealed assets, you might consider adding a forensic accountant to your team.

Confront Your Spouse

Another obvious option is to simply confront your spouse about the behavior. A direct accusation may cause them to cave in and admit to their misconduct. On the other hand, you might learn that your suspicions were based on a simple misunderstanding. It doesn’t hurt to ask.

Gather Documents

With any divorce, a positive first step is to gather as many documents as possible. These include income statements, bank records, mortgage statements, tax returns, and anything else you can get your hands on. These documents may lead you straight to the concealed assets — especially if you have them reviewed by professionals.

Rely on the Discovery Process

You should also know that in a litigated trial, your spouse will be forced to hand over any documents that you formally request. This is because the “discovery” pre-trial phase has very specific rules, and one of these rules is that attorneys must share information with each other.

Where Can I Find a Qualified, Experienced Divorce Attorney in Mississippi?

If you’ve been searching for a qualified, experienced divorce attorney in Mississippi, look no further than Ballard Law, PLLC. Over the years, we have helped numerous divorcing spouses — and we know that concealed assets can create very difficult situations. Even if you remotely suspect your spouse of engaging in this misconduct, it’s best to bring it to our attention immediately. From there, we can guide you toward the post-divorce financial security you deserve.

Sources

Ballard Law, PLLC

108 S President St.
Jackson, MS 39201
(769) 572-5111

If you have further questions about this article or legal concerns, call 800-672-3103