Divorce can be contentious and this can result in spouses becoming combative. Nonetheless, there is a big difference between having to settle disagreements and engaging in unlawful behavior.
Hiding marital assets is one such example of unlawful behavior. Some spouses do this in an attempt to ensure a more favorable financial settlement.
The community property division process in California relies on the family court gaining accurate access to financial information. Each spouse should leave with half of the marital assets. How can you tell if your spouse is hiding assets from you?
Sudden extravagant purchases
While you and your spouse were comfortable financially, you rarely made extravagant purchases. Since the divorce became reality, your spouse has changed their behavior in this regard.
They’ve bought extravagant gifts for family members and friends under the guise of generosity. Sudden expensive purchases can be a form of hiding marital assets. Your spouse may intend to take the gifts back at a later date and sell them for a profit.
Caginess over finances
If you and your spouse have joint accounts, then your access to these should be continued. Changes of passwords and sudden account closures without your knowledge could be a sign that something is amiss. The property division process in California relies on honesty, transparency and accurate information. If you’re being denied access to accounts then your spouse could be attempting to subvert this process.
The full disclosure of marital assets is crucial to obtaining a fair divorce settlement. Seek legal guidance to ensure that your rights remain protected.
