4 ways people can tell if their spouses are hiding assets in a divorce case

People who are going through a divorce may want to watch for signs that their spouse may be hiding property and/or assets.

When a couple enters into the divorce process, they are required to disclose any and all information involving the property and assets they may have. This gives the court-appointed judge a complete understanding of what he or she will be working with when it comes time to divide the marital assets. Since Colorado follows an equitable distribution of property model, it is the judge's responsibility to split these marital assets in a way that is fair to all of the parties involved in the divorce.

Not all spouses, however, are forthcoming with information regarding their marital belongings. In some cases, a spouse may be tempted to hide his or her assets in an attempt to keep it out of the divorce settlement. People should know what signs to look for in order to tell whether their spouses are hiding information, assets and property that may otherwise be partially theirs in the divorce settlement. According to Forbes, spouses that are hiding money and/or property from the other spouse during a divorce may display some of the following characteristics:

1. One spouse has complete control over the bank accounts and financial information.

A spouse who has total control over paying the bills and handling all of the household finances can easily hide money into other accounts. The other spouse may be oblivious to the fact that the money is being shifted between accounts, since he or she does not have access to the account information. The spouse who has control of the finances should willingly disclose all of the information regarding the accounts in order to prevent incriminating themselves.

2. A spouse has a P.O. Box or private mailbox where they have their mail delivered.

A spouse may have a hidden mailbox or P.O. Box where he or she some of the mail delivered. This keeps the information secret from the other spouse, who may not know that another mailbox exists.

3. Reports unusual expenses or losses from personal or business finances.

Whether the spouse is in control of business finances or just the household finances, he or she may be able to manipulate the accounts by declaring unnecessary expenses. After recording a loss or excessive overhead costs, the spouse may then pocket the money by placing it in his or her own account.

4. Makes expensive purchases and gives them to other family members as gifts.

Spouses who invest their money in expensive art collections, cars and jewelry, can give those items to close family members and friends as gifts. They may have the intention of reclaiming those gifts once the divorce has been finalized and there is no risk of their former spouse coming back to reclaim the property.

Finding legal help

If you are going through a divorce, you may want to contact a Colorado attorney who has a full understanding of the process. A lawyer may be able to help you get everything that is rightfully yours in the divorce settlement.