Thanks for printing! Don't forget to come back to Meriwether & Tharp, LLC for fresh articles!
Signs Your Spouse is Hiding Marital Assets
In Georgia, there are several aspects of divorce that revolve around income and assets, such as equitable distribution, child support, and alimony. As a result, in order for a divorce to be settled or adjudicate in a fair and equitable manner, it is imperative that both parties completely disclose their financial information. In a perfect world everyone would completely and accurately disclose their financial circumstances. However, unfortunately we do not live in a perfect world. With this being said, it is not uncommon for some spouses going through divorce to hide marital assets in an effort to “beat the system” and disadvantage the other spouse.
If you are going through a divorce here in Georgia, look out for the following red flags that could indicate your spouse is hiding marital assets. If you see any of the following signs, make sure you bring them to the attention of your divorce attorney immediately. If you are not currently represented, make sure you retain a qualified divorce attorney with the financial know how to ensure you receive a fair and equitable distribution of marital funds upon divorce.
Watch out for these red flags:
- Your spouse maintains complete control of bank account information and online passwords.
- Your spouse is secretive about financial affairs.
- Your husband or wife has a private P.O. box, where he or she receives account statements and bills.
- Your spouse has deleted one or more personal financial programs like Mint, Money, Quicken or Quickbooks.
- He or she makes sudden unsubstantiated claims that his or her business is failing.
- Your spouse suffers an apparent income decrease, but continues to live the same lifestyle.
- He or she begins to report dramatic decreases in the value of marital or business investments.
- Your spouse makes several trips to countries with relaxed banking laws.
- He or she starts accumulating large amounts of debt.
- Your spouse opens multiple business or personal bank accounts for no obvious reason.
- Your spouse begins to make large inexplicable gifts or loans to close family members or friends.