February 2017 Archives

Discovering Hidden Assets During Divorce

Many people facing divorce will try to hide assets to prevent them from being distributed in the settlement. This is especially common in high-net-worth divorces. The National Endowment for Financial Education estimates that 2 out of 3 divorces involve hidden assets. Digital technology makes it more difficult to hide assets than in the past, but plenty of people still try. Learn what you can do to uncover assets your spouse may have hidden from you.

What is 'Wasteful Dissipation' of Marital Assets?

When a couple divorces, they will divide their shared assets. When a divorce is less-than-amicable, it is possible that one spouse may spend money on wasteful things so the other cannot gain the money in the divorce settlement. Hiding or concealing assets is a common behavior in divorce cases, but others may waste the money to avoid giving it to the other spouse. Whether this waste is an intentional denial of assets to the other spouse or the side effect of poor financial habits, wasting shared assets can have consequences in divorce court.

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