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Ways spouses hide marital property

In some divorce situations, it is not uncommon for spouses in Michigan to allege that their spouses are hiding assets. Spouses are required to provide a truthful, accurate and detailed accounting of their assets and finances in a divorce. Some individuals have marital assets they do not want their partners to know about, so they do not disclose them to the courts. It is also a strategy that some individuals use if they have been contemplating divorce for a while. Hiding information about assets in a divorce is against the law. It is also a very common occurrence.

Here is a breakdown of how people can discover if their spouses are hiding marital assets and property.

Overpaying the IRS

Some people overpay the IRS to lower the amount of cash they have. Some partners do this so they can receive the money back after their divorces are complete. Making larger payments to their creditors and the IRS makes it possible for them to document those expenses as necessary and keep their soon-to-be exes from getting what they may be entitled to receive in their divorce settlements.

Sudden decrease in wages

Some spouses defer their salaries and other forms of compensation to temporarily lower their income. Showing a lower income may allow them to pay less in child support and alimony. Once their divorces are over, they stop the deferments to receive their full compensation again.

Secretive about finances

Spouses who suddenly become defensive or quiet every time their partners ask them about their finances may be hiding something. Their actions may indicate deception if they do not provide their partners with the information they are requesting regarding their bank accounts, shopping habits, wages and other related matters.

Some spouses use all sorts of tactics to hide assets and financial information from their partners. Discovering them is often challenging and can lead to additional stress and arguments during the divorce process. Anyone who suspects their spouses are hiding information about their finances should speak to an attorney for guidance on the matter.

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Lorrie J. Zahodnic

"I will hold you up until you can stand on your own two feet."

Lorrie J. Zahodnic, P.C. has provided skilled and compassionate legal guidance to Michiganders in family law matters for over 20 years.

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