When going through a divorce, you know you have the right to a fair share of all marital property. This includes everything purchased, accumulated, collected and earned over the course of the marriage. This is often one of the most complex and emotionally challenging aspects of a divorce, and one Arizona spouse may take steps to cheat the other out of his or her portion of shared assets. One common way spouses often do this is by attempting to hide assets and conceal wealth.
Hidden assets have the potential to impact your final divorce order and your financial future after the divorce is final. If you suspect that your spouse is being dishonest in disclosures or is acting in other ways that may indicate an intentional effort to deprive you of your rightful assets, you can fight back. There are ways you can locate hidden assets and the terms you need to look to your future with confidence.
What assets could one hide?
There are different types of assets that may not be as accessible or obvious during a divorce. It is critical to know where to look and how to determine if something is not accurate with the disclosures given to you by the other party. As you consider terms offered by your soon-to-be ex-spouse and seek your best financial future, the following may be places you should carefully scrutinize:
- Pensions: It is beneficial to take a careful look to ensure that you have appropriately accounted for this source of future income and its equitable division between spouses.
- Cryptocurrency: Bitcoin and other types of digital currency are common areas where a spouse may attempt to hide assets or true level of wealth.
- Restricted stock units: Restricted stocks can come in different forms, and it is a source of future income. It is important to be familiar with their value and terms for distribution.
- Military benefits: In some circumstances, non-military spouses may have a right to certain benefits after the divorce is final. Do not leave your rightful benefits behind.
A spouse may intentionally hide assets after a divorce, or there may be assets of which you are not fully aware. Regardless of the details of your individual situation, it will be helpful to seek a complete assessment of your case and understanding of all the options available to you. When you understand how property division should work in your situation, you will be in a better position to defend your future financial interests.