One of the most important aspects of divorce negotiations is property division. This determines which assets both spouses will obtain once the divorce has concluded.
In Pennsylvania, marital property is divided on the basis of equitable distribution. This means that whether spouses reach an agreement, or the court has to step in, the deal must be fair to all parties.
This process relies on full financial disclosure. If one spouse attempts to hide assets, then the final settlement will not be equitable. Outlined below are a few signs that your spouse may be trying to hide assets:
You’re locked out of some accounts
Throughout your marriage, you and your spouse operated joint bank accounts. Upon your last attempt at logging in, you were told that the password was incorrect. It’s been the same password for years, so you know that you haven’t made a mistake. As your spouse was the only other person with access, they must have changed it. The question is, why have they done this? Could it be an attempt to hide assets from the family court?
Items have gone missing
You and your spouse have been keen art collectors over the years. This is far more than just a hobby, it’s essentially a business. You went to check on the collection a few days ago and some of the treasured items appear to be missing. Why are they not there and who has taken them? Shifting valuable items, such as art and jewelry, could be an attempt by your spouse to hide assets.
Hidden assets are not only detrimental to your divorce settlement, but the practice is unlawful. To protect yourself from this sort of behavior, make sure you have legal guidance at every stage of the divorce process.