Where do People Typically Hide Assets during Divorce?

If you are going through divorce, you know that matters of property division will come to the forefront in the near future. At that point, you will do whatever it takes to receive the property that you are entitled to.

But what happens if your soon to be former spouse hides assets during the divorce process? This is a concern for many. It is also one that can work against you if you don’t pinpoint the problem right away.

Here are a few things you should be aware of:

— Cash could be stashed in a safe, out of the way place, such as a safe deposit box at a local bank.

— Under-reported income on financial statements and tax returns.

— Overpaying creditors or the IRS. By doing so, your partner can receive a refund in the future.

— Defer salary, commission, and bonuses. A common trick, this ensures that the money is not included during divorce proceedings.

— Transfer stock. This entails the transfer of stock and/or other investment accounts to somebody else, such as a family member or business partner. Once the divorce is over, the person then asks that the assets be transferred back.

It is your hope that your partner is 100 percent honest during the divorce process, but you cannot assume this will be the case. If this person hides assets, it could work against you in the long run. It is important to understand how assets are often hidden during a divorce, as this will help you avoid a situation in which you are duped.

Source: Forbes, “Divorcing Women: Here’s Where Husbands Typically Hide Assets,” accessed April 18, 2016

Protect Your Money And Your Family

We remove fear associated with divorce, protect your money & maximize time with your kids!

We're here to help. Let's determine your best options.

Call Us 24//7 at 801-685-9999 to Speak with a Live Representative

Utah Divorce FAQs
Top 100 Divorce Blog
What Clients Are Saying…
BrownLaw icon
Excellent
Brown Family Law
4.8
Based on 918 reviews
Great support, Russell and Connor were amazing and got my case dismissed in only 2 months. Great communication with weekly calls. Easy to work with and were very conscious on not overspending my budget. Great team.
Response from the owner:Daniel, thank you for the kind words, and happy Russell and Connor did well for you.
Anne Greyson long was great to work with she really listens and fights for her clients thank you so much for all your hard work
Response from the owner:Thank you, Heather. Glad Anne-Greyson helped you so well.
You get what you pay for, and the Brown Family team is worth every penny. We truly appreciated their team-based approach, making sure that every detail of our case was thoughtfully handled. They were incredibly easy to work with, kept us informed throughout the process, and made sure no question ever went unanswered. By far the best family attorneys I’ve worked with, and the only ones I’ll call if I ever need legal help again.
Response from the owner:Chris, thank you. Glad we were able to guide you through your process.
Andrew made the whole process smooth and quick! Kept me updated on any changes, and followed up with me constantly!

Made me feel at ease throughout the whole process and made sure I felt seen/ heard!
Response from the owner:Joselyn, thank you for the kind words.
David Handy is my attorney and he is excellent. He understands my cases and is well informed to defend my needs and the needs of my kids. He is supportive and compassionate. Telling me how things are and what to expect. He does very well with my high conflict cases (protective order and divorce). I highly recommend him and the Brown Family Law firm. Everyone I have talked to is helpful. Especially Conor Schetzel who is currently the paralegal on my cases.
Response from the owner:Suzanne, thank you and glad David has taken care of you.
Nathaniel Garrabrandt and Brown Family Law is where I send people who are seeking Divorce. Highly professional and compassionate. Thank you!
Response from the owner:Jaren, thank you for the referrals.
I cannot say enough good about my experience with Brown Family Law. Ray Hingson and paralegal Carren did an excellent job with my case. I will definitely use this firm again for any legal issues.
Response from the owner:Meghann, so glad Ray and Carren took good care of you.
I have worked with Andrew Christensen many times in a variety of situations. I am very impressed with his friendly demeanor in a difficult situation. I would highly recommend him to you without any reservations.
Response from the owner:Thank you, Monica.
Highly recommend Brown Family Law. Life is hard, divorce is harder, and Andrew Christensen is your guy to help you through to the other side.
Response from the owner:Mike, thank you for the kind words and the referrals.
When you’re going through a tough time and need legal help, this firm isn’t just a one-person operation. It’s a team of attorneys who work together to support you every step of the way. So you’re not just getting a lawyer, you’re getting a legal team behind you.

Navigating the legal system was a steep learning curve for me, and my situation was fairly complex. What stood out about this law firm was the way multiple attorneys collaborated to address my case. It wasn’t just one person working in isolation, but a team supporting each other to find the best path forward. That kind of collective effort is a real strength, especially in hard out complex situations like mine.

There was one issue I felt should have had a different outcome with the court. When I brought it up, the team responded in a very professional and respectful manner, which I truly appreciated. It came to my understanding that the legal system sometimes works in a way that is distant than I thought. This was presented to me in a way that someone outside of the legal system could understand.

In my experience, this firm takes the time to not only assist you, but also help you understand why things are happening. That made a big difference for me, and it’s something that really sets them apart.
Response from the owner:David, thank you for our conversation and taking the time to leave this review.
yH5BAEAAAAALAAAAAABAAEAAAIBRAA7

Categories