The divorce process involves navigating several complicated factors. Few areas of divorce are more complex than property division, particularly when there are assets of high value.
Texas is a community property state. Essentially, this means that property acquired during the marriage should be split 50/50. However, the reality is usually much more nuanced than this.
One thing that can complicate matters is when marital assets are hidden. Not only is this unethical and detrimental to property division, but it is unlawful. What are some of the main signs that your spouse is trying to hide assets?
Avoidance tactics
Despite having issues during the marriage, one thing that you and your spouse always had was openness about finances. Since the initiation of divorce, this may have changed. Has all of the financial paperwork been moved out of the filing cabinet? Have valuable items been taken out of the safe? Are you being told your credentials are incorrect when logging in to joint bank accounts? Secretiveness and avoidance are some of the earliest signs that assets are being hidden.
Unusual spending behaviors
Have the spending habits of your spouse changed since the divorce was initiated? For example, have they just purchased a lavish new sports car? Have they transferred a large sum of money to a family member, claiming that it was an old debt? While there’s a chance these transactions may be legitimate, if they have occurred since the news of divorce, they could also be a sign of hiding marital property and diluting your share.
Property division relies on fair and open disclosure of marital finances. If you suspect that your spouse is hiding assets, then it’s important to seek legal guidance.