Beware of dishonest financial tactics during property division

Ideally, a couple should fairly split the assets and property acquired during the marriage, otherwise known as marital assets, upon divorce. However, it is not always the case. Not everyone comes to the property division table with good intentions.

Your spouse may be keen on shortchanging you now that the marriage is over and everyone is going their separate ways. It is unfair to you, given that you made a direct or indirect contribution to acquiring marital assets, and it is also against the law.

How does this happen?

There are several ways your spouse can be dishonest during the property division phase of your divorce. First, they may fail to disclose the existence of or undervalue certain assets. They may also fail to report or underreport cash income, exaggerate expenses or even secretly give away assets to family or friends.

When this happens, you will likely end up with the shorter end of the stick since there will be fewer assets left for division. You may not have much to show after all the years of hard work and commitment to the marriage.

Looking out for your rights during a divorce

If you suspect your spouse is hiding assets from the divorce court, it is prudent to take swift and appropriate action before it is too late. As mentioned, hiding assets during divorce is illegal, and they may face legal and financial penalties if culpable.

Since you will need some supporting evidence that may not be so forthcoming, such as your spouse’s bank details or property transfer deeds, it is best to seek legal assistance on the best way of going around such hurdles. Understanding how to prove separate property in a divorce is essential in these situations to ensure a fair division. It could go a long way in protecting your financial interests when dealing with a dishonest spouse.