We could go on and on all day about what a terrible idea it is to try to hide assets during divorce, but that won’t stop some unscrupulous spouses from trying to take more than their equitable share of marital property. This can happen in cases when one spouse has to make alimony (maintenance) or child support payments, but even beyond that, some people are just greedy, or angry at their spouses for one reason or another (it is a divorce, after all).
One place these spouses can attempt to hide money is at their jobs, disguised as other things or stuffed away in accounts that they don’t think anyone can see.
Four Places Where Money May Be Hidden
- Loans. During discovery, your spouse will have to list his or her debts, and some people will include sham loans made with an employer or a friend to withhold certain assets to make themselves seem like they have less than they actually do.
- Deferred salaries and bonuses. Some companies will allow employees to defer their pay until a later date. Greedy spouses could use this to postpone payments until after their divorce. It isn’t the oldest trick in the book, but it is predictable, and earnings statements will probably reflect that something is off about your spouse’s income. It certainly is not the most creative option.
- Expense accounts. Some companies offer these to allow workers to treat customers to fancy dinners or box seats at the next big game. Divorcees might think it wise to list those expenses as their own, despite the fact that it is the employer who is paying. Still others might opt for cheaper entertainment for customers and pocket the difference while failing to disclose it.
- Employee stock options. Some companies allow employees to pay reduced rates for stock. A sneaky spouse might omit the fact that he or she paid a reduced rate and list the difference as an expense.
Talk With a Denver Divorce Attorney to Discuss Your Options
Some spouses will do anything they can to come out on top financially during a divorce. Speaking to a Denver divorce lawyer can help you obtain the records you need to prove that your spouse is hiding assets.