Law Office of Stephen J. Bedor

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Unusual financial activity could indicate hidden assets

During divorce, there is often distrust between spouses. However, sometimes that distrust is warranted. Many people are tempted to hide assets from their spouse during divorce in an effort to keep them from being divided in the divorce process like other marital assets.

It is illegal and dishonest, but many spouses who are used to managing the finances on their own think that they can get away with hiding assets. However, there may be signs in your financial record that may indicate your spouse is not being honest with you about your family finances.

Look for unusual activity

The best way to make sure your spouse is not hiding assets is to review your family’s financial records and look for any unusual activity. Multiple unexplainable transactions, expenses that are much higher than they should be, and significant oversights are examples of unusual activity that may indicate hidden assets.

Some ways people have tried to conceal assets, include:

  • Deferring a bonus
  • Intentionally overpaying taxes
  • Asking a trusted person to hold an asset until a later time
  • Exaggerating expenses
  • Storing money in a separate account

Bring the assets to light

If you think your spouse may be hiding assets from you, you and your attorney can try to bring those assets to light during the divorce process. To do this, you should first inspect all voluntary asset disclosures carefully and point out any mistakes or omissions. If needed, you can make a formal request for asset information with an interrogatory, or your attorney can address your concerns with your spouse during a deposition, which is a sworn testimony in front of a court reporter.

Although combing through financial records may not be fun, it may help uncover any assets that have been hidden. Your marriage may be ending, but you have a right to receive your fair share of the marital assets.

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Law Office of Stephen J. Bedor

OFFICE LOCATION 4248 Galewood Street Lake Oswego, OR 97035 Toll Free: 877-611-6793 Phone: 503-212-4878 Fax: 503-699-1811 Lake Oswego Law Office Map