You and your spouse have decided to get divorced. While this hasn’t been an easy decision, it feels right for the family. You aim to make divorce proceedings as amicable as possible, and you hoped your spouse would be on the same page.
A key part of divorce proceedings is dividing marital property. Washington State divides property during a divorce based on community property laws. All marital property is divided equally.
However, you only receive your fair share if your spouse has been honest about their assets. In some cases, one spouse may attempt to hide assets to prevent their spouse from receiving a share. What are some of the more common signs that your spouse is hiding assets?
You’ve been locked out of the accounts
Throughout your marriage, you and your spouse had joint banking accounts. These included your earnings and savings. Upon trying to log in, you’ve suddenly discovered that your access has been denied.
The password on the account has been changed and you no longer have access. Why has your spouse suddenly decided to shut you out? It could be a sign that they are trying to withdraw funds and hide them from the court.
They’ve made elaborate gifts to others
Over the years, you and your spouse have purchased some valuable items. You’re both into art and have some original pieces. Your spouse also bought you some nice jewelry as gifts. After having a look around the house, you notice that some of these items are missing. When you questioned your spouse, they said they’d given them to family members who would appreciate them.
Sometimes, providing elaborate gifts to friends and family members can be a means of hiding assets. Your spouse may have agreed to collect them once the divorce has been finalized.
These are just some of the more common signs of hidden assets. To protect yourself at each stage of the divorce, make sure you have legal guidance behind you.