Do you suspect that your soon-to-be ex-spouse is attempting to deceive you regarding the property division component of your divorce?
If so, they may be using some of the following tactics to hide substantial marital assets.
- Delaying payment of substantial commissions -- allegedly for "tax purposes."
- Shifting assets from joint to separate accounts in his or her name only.
- Transferring joint assets to a family member or friend until the property settlement is finalized. Then, the co-conspirator arranges to transfer the valuable assets right back to just your ex-spouse, leaving your share of the proceeds out entirely.
- Use debit cards to build up a nest egg with cash-back withdrawals. While this is not going to enrich one party enormously, it also will rarely be detected because it shows up as household purchases and groceries.
- Delaying invoicing clients for the time being to make it appear as if a business is barely getting by.
- Requesting that bonuses, raises and promotions wait until the property settlement has been reached.
- Faking expenses for a business. Adding sham consultants to the payroll, pre-paying vendors and other underhanded tactics diminish a company's net worth, but only on paper.
- Paying too much in taxes, only to use the overpayment to offset tax debts in the future.
- Omitting stock options and employer retirement accounts from the negotiations.
- Spend money on expensive items for the business, like art or vehicles, that eats into the business profits.
If you suspect such subterfuge is going on, advise your Arizona family law attorney of your concerns. He or she can recommend forensic accountants who can pore over financial documents and ferret out missing assets.
Source: AOL.com, "10 Easy Ways to Hide Assets From Your Spouse," Robert Pagliarini, accessed Aug. 11, 2017