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Hidden assets during divorce: When the wife is the culprit

There may be animosity between partners during a divorce situation, even under the best of circumstances. It is human nature for individuals to want to keep what they believe to be theirs. Sharing, for some Louisiana residents, may be difficult when it comes to a soon-to-be former partner. This likely when one person might not be so forthcoming when it comes to his or her financial situation and so the issue of hidden assets may crop up.

Many people believe it is a man who most likely will hide his assets from his partner. But that isn’t always the case. With this societal assumption, it can be difficult for some men to negotiate a financial settlement during a divorce. Recent statistics show that women in a marriage bring in at least half the earnings and about 80% of women control the finances in a marriage. So, if they are motivated to hide assets, they just might be likely to do so.

Since there are still many gender assumptions surrounding the hiding of assets, many men don’t even know what to look for. Here are some things of which to be mindful: overpaying creditors or the IRS; any unusual financial activity, no matter how big or small; a new interest in collecting expensive things like art or jewelry; account statements that disappear; a new interest in cryptocurrency like Bitcoin; a partner’s divorce statement is missing items that should be listed. Spouses also need to report other sources of income such as bonuses, dividends, pension payments or commissions.

Louisiana residents who believe their partners may be guilty of hidden assets may do well to speak with an experienced attorney. There are things a lawyer may be able to do to get to the bottom of things. He or she may also be able to recommend other who may be able to help such as forensic accountants. 

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