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How can your spouse put assets out of sight in a divorce?

On Behalf of | Feb 28, 2022 | Family Law |

Some people think “out of sight, out of mind” is a good maxim regarding assets in a divorce. Yet, it is not a legal option, and anyone doing so could lose the whole lot.

Courts that realize one spouse is hiding assets from the other can order the cheating spouse to share or award the whole lot to the innocent spouse to punish the other’s dishonesty. Judges have a lot of cases to attend to, so if you believe your spouse is hiding assets, you need to provide the court with evidence to prove it.

Here are some places to look:

1. Cryptocurrency

If your spouse purchased one form of cryptocurrency and traded it several times, it can be tough to trace. Thinking about where they transferred the initial money from to buy it is a good place to start, but you will almost certainly need help to track it down.

2. Offshore bank accounts

In some ways, offshore accounts were the precursor to cryptocurrency. They provide ways for people to put money out of the reach of others and shroud it in secrecy.

3. People you know

If your spouse is less technologically minded, they may have gone for the simple option of passing funds to friends or family. They may have given them cash to look after it. Or they may have made investments in the other person’s name, which they will recover once you are out of the picture.

Divorce can be unfair if you let it. With the right legal help, you can fight to ensure you get the full amount of assets you are entitled to receive.

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