High-asset divorce: Hiding assets happens more than you may think

On Behalf of | Mar 31, 2020 | Uncategorized

We represent many divorcing individuals in the Boulder region of Colorado. This includes spouses of those with high-value assets. When our attorneys bring up the possibility that a spouse may be hiding assets from the property division process, our clients often display shock. They don’t seem to understand that this is a big issue in many high-asset divorces.

Whether it is because of greed, spite or emotional pain, some people do attempt to keep their spouses from receiving a fair share when a high-asset divorce occurs. Some of the ways people try to hide assets include the following.

  • Transferring money to secret bank accounts
  • Paying income to fake employees
  • Pocketing business funds instead of depositing them
  • Secretly withdrawing funds from a bank account
  • Overpaying bills and then receiving refund checks
  • Falsifying business expenses
  • “Loaning” money to a friend or family member for recovery later

Fortunately, not everyone involved in a high-asset divorce engages in this illegal and immoral behavior. However, it is in your best interest to give the matter careful consideration. If you decide that hiding assets is a possibility on the part of your spouse, speak with your divorce attorney.

In the modern world, it is extremely difficult if not impossible to completely erase evidence of financial transactions. This means that you can find these assets, especially with assistance from a skilled divorce lawyer.

We have learned that for many, it is less about getting more money than it is about being treated fairly. Still, all people going through a divorce deserve the full amount of marital property they are due. Please, continue reviewing the information on our family law website to learn more about getting your fair share in a high-asset divorce.

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