Can My Spouse Get Away with Hiding Assets During a Divorce?

 Posted on September 26, 2023 in High Asset Divorce

Some spouses will undoubtedly try to sneak away with more than their fair share, especially in high-asset divorces. If you are trying to unmask him or her, exposing your suspicions can make for a more contentious divorce. In these complex situations, untangling and fairly dividing marital property becomes quite the challenge. To safeguard your rights and financial interests, it is crucial to put emotions aside and tackle this task head-on. You need a skilled Texas high-asset divorce attorney.

How Can I Protect My Assets?

Under Texas law, the court will order that the estate be divided in a just and right manner, keeping in mind the rights of each party and any children. The entirety of your assets is a testament to your hard-earned efforts, and you rightfully deserve what is yours. Unfortunately, there are instances where spouses go to great lengths to retain everything for themselves.

 Here are a few tactics your soon-to-be-ex could use to conceal assets during divorce proceedings:

• Making substantial bank withdrawals that raise suspicions
• Postponing business transactions until after the divorce to avoid sharing profits
• Falsely transferring money to friends or family members in an attempt to hide it
• Delaying tax refunds or bonuses to the following year to avoid sharing them

How Can I Expose Hidden Wealth in a High-Asset Divorce

In high-asset divorces, nailing down your fair share demands a deep dive into all assets. This includes dissecting IRAs, 401k accounts, real estate, investments, and any prenuptial or postnuptial agreements in play. But sometimes, the truth is concealed, and you may need to dig into your spouse's finances to unearth all available assets for a fair divorce settlement.

What is a Financial Detective?

If you suspect your spouse is playing hide-and-seek with assets, we have your best interests in mind. At Powers and Kerr, PLLC, we recognize that some spouses attempt to conceal their assets from their soon-to-be ex. We are ready to go on the offensive to uncover these hidden assets for you.

In certain situations, we might even enlist the services of a forensic accountant—a financial detective, if you will—to thoroughly investigate your spouse's finances and guarantee that no assets entitled to you are being kept in the shadows during the divorce proceedings.

Schedule a free consultation with a Travis County, TX High-Asset Divorce Lawyer

If you need more information about how Powers and Kerr, PLLC can help you with a high-asset divorce call 512-610-6199 for a free consultation. An experienced Austin high-asset divorce attorney can guide you through the process of these challenging cases.