For some couples, the division of their shared property and finances is the most contentious aspect of their divorces. Despite their differences of opinion, most who face challenges with this phase of their cases make the appropriate reports to the courts and abide by the decisions made.
Unfortunately, some spouses may seek to skew the division of shared property in their own favor, and they take steps to hide assets. To help ensure they receive a fair settlement, it benefits those who suspect their spouses of hiding assets to know where to look for them.
Missing money from shared accounts may indicate hidden assets. According to CNBC.com, people should check their shared financial accounts to help determine if a spouse has hidden assets. Divorcing spouses should keep in mind, however, that missing funds sometimes indicate other issues such as infidelities or gambling problems.
With their increase in popularity, cryptocurrencies such as Bitcoin and Ethereum have also become favorite places for people to attempt to hide assets in divorces. Although difficult to track, professionals working with clients may examine emails to look for exchange or transfer confirmations, past income tax returns or prior loan applications.
Restricted stock options
According to Kiplinger.com, some people attempt to hide assets in a divorce in the restricted stock options they earn through their employment. Sometimes compensation packages, particularly at the executive level, include stock options. If accrued during the course of the marriage, the non-earning spouse typically has an entitlement to these assets.
Emotions often run high when marriages approach and go through a divorce. Working with a legal professional may help those going through this difficult life change to ensure they get the fair settlements they need and deserve.