The divorce process can be stressful and worrisome. You may have heard stories of people who lost everything in a poorly-negotiated divorce, or you may simply be skeptical about how it will turn out for you.
During a divorce, one of the main concerns is a spouse who might try to hide assets. While there was a time when a spouse could literally hide physical cash, it is now significantly more difficult to hide assets.
Here are a few reasons it is nearly impossible for your spouse to hide assets during a divorce.
Digital banking: An investigator’s best friend
Now that nearly all assets have digital roots, it is becoming increasingly more challenging for your spouse to hide assets. Rather than relying on stacks of paper banking statements or old checkbook registers, most banks have searchable digital records with a history as old as the account.
Sometimes a spouse will start trying to hide cash or other assets when they start thinking about divorce. However, with a small amount of digging, an investigator will quickly see changes with nothing to justify them.
It often backfires
While there are cases where a spouse manages to hide some assets, it usually does not last for long. Since divorce tends to be an ongoing arrangement, a new case can be opened at any time. Even if you run out of appeals on your initial divorce case, there is usually an option for filing a new action.
Ultimately, someone will find out about the hidden assets. When the information comes to light, it usually means the spouse hiding assets will need to pay what was owed and any assigned penalties.