Is your ex being honest about their assets?

On Behalf of | Jul 23, 2021 | High Asset Divorce

When you file for a divorce and your soon-to-be-ex reports their assets to the court, do you think those numbers are accurate? You know that they’re supposed to be. You know that yours are. But you may not be as sure about your spouse’s information.

The simple problem is that the court doesn’t know what assets you have, but it is charged with helping you divide them. As a result, you and your spouse have to report on your earnings, investments, physical assets, etc. You’re obligated to do this honestly and as accurately as you can, at the risk of committing fraud if you don’t. 

However, your spouse may believe that stretching the truth or lying outright is a good way to hide the assets and keep them from entering the property division equation. 

Lies about assets can take many forms

If your spouse does decide to lie, it could look very different, depending on the situation. For instance, the easiest way to do it is perhaps to give money to someone else and then lie about how that money was intended as a gift or for the repayment of a loan that never existed. But there are other stories, such as the man who owned a recreational vehicle worth $350,000 and lied about its location. Other people have stashed money in safe deposit boxes or other bank accounts and simply lied about its existence. 

What options do you have?

If you think your spouse is hiding substantial wealth during a high-asset divorce, you must know what legal steps you can take to uncover those assets and get what you deserve. Trying to handle the situation on your own probably won’t be productive. An experienced advocate can help you figure out the next steps you should take to best protect your interests.