Jump to Navigation

Could your spouse be hiding assets during the divorce?

If your soon-to-be ex was trustworthy and faithful, chances are good that he or she wouldn't be your STBX.

Given that, it wouldn't be too surprising to learn about the latest attempt at subterfuge. Suddenly, your assets seem to have shrunk substantially. Here's how it might have been done.

-- Transferring money from a joint account to a separate account. This may be done incrementally or in one large transaction.

-- Transferring money or assets to a third party, like a friend or relative. This removes the asset from the marital property during the pendency of the divorce. Later, it's transferred back to an account only bearing your ex's name.

-- Taking draws of cash off debit cards while shopping for groceries and other household goods.

-- Letting sales commissions build up without accepting payment. This could even be structured to appear as if it were done for tax purposes.

-- Not applying for or accepting promotions and accompanying raises while the divorce drags on in order to keep spousal and/or child support payments lower.

If your family law attorney suspects that your ex-spouse is being less than forthcoming about all of the marital assets, he or she can arrange for a forensic accountant to go over your marital finances with a fine-tooth comb.

Any discrepancies and suspicious transactions or patterns will be brought to the attention of the court. Hiding assets is a serious offense that at the least will severely damage your ex's credibility to the judge overseeing the case.

To avoid being victimized in this way, learn about your jointly owned accounts and other assets and stay abreast of any changes.

Source: AOL, "10 Easy Ways to Hide Assets From Your Spouse," Robert Pagliarini, accessed Feb. 10, 2017

No Comments

Leave a comment
Comment Information

Thursday, March 22, 2018

Contact Us

Weinstein, Kaplan & Cohen, P.C.
Attorneys at Law

1325 Franklin Avenue
Suite 210
Garden City, NY 11530-1631

Phone: (800) 722-1342
Fax: (516) 877-7760

E-mail the Firm

Case Evaluation Form

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Located just minutes from the Nassau County Supreme Court, Weinstein, Kaplan & Cohen, P.C. has provided premium family law and business law services to clients throughout New York for almost three decades.


AV Rated

CV, BV and AV are registered certification marks of Reed Elsevier Properties Inc., used in accordance with the Martindale-Hubbell certification procedures, standards and policies.