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Despite the impact of COVID-19, we are open and continuing to meet the needs of our existing clients and new clients without interruption or change in the quality of our services. Please do not hesitate to contact us with any concerns, questions or requests for information about your matter. At this time we are offering appointments via telephonic and/or video conferencing.
To help out during these trying times we are offering Free Consultations. Click here to Schedule a Consultation.

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2 ways your ex may try to keep your assets

On Behalf of | Jan 6, 2023 | Divorce |

As you go through a divorce, the financial side is going to be very important, and you and your ex are supposed to split up the assets that you own. This can be complicated, but the general idea is simply that dividing your assets is a key part of dividing your life together.

Unfortunately, your ex may do things to try to keep you from the assets that you deserve. In some cases, these actions can be in violation of court orders, but these kinds of events do still take place. Here are two things that you want to watch out for as you work to ensure that you get what you truly deserve.

Hiding assets

First and foremost, many people will attempt to hide assets from their spouse, figuring that they don’t have to divide assets that their spouse doesn’t know exist in the first place. One tactic to do this may be transferring money into cryptocurrency or other types of investments, hoping that you are unaware of the existence of these accounts. Another example is simply when someone gives money or expensive assets to a friend and then claims they have no possession of them – until they get them back after the divorce.

Dissipating assets

Dissipating assets is a similar tactic, but it is focused more on spending the assets than hiding them. Instead of spending them in a way that would benefit both of you, or buying an asset that can be divided in the divorce, your spouse will spend the money on themselves. They could spend excessively on food, drinks, vacations, trips, entertainment and other things that are nonrefundable.

If you believe either of these things are taking place, then it’s even more important for you to know about all of your legal options.

 

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