If you’re concerned that your spouse is going to try to hide assets during a divorce, there are many ways for them to do it. Some people simply try to transfer assets into hidden locations, such as moving money into an overseas bank account without telling their spouse about it.
But another thing to keep in mind is that your spouse may also try to manipulate their income. This way, they can change when they receive assets in a way that’s beneficial for them. Let’s look at a few examples of how this could happen.
Putting off a promotion
For one thing, maybe your spouse was offered a promotion or a raise. Under ordinary circumstances, they would’ve taken it right away. But they may have told their boss that they would rather put it off for six months so that the divorce can be finalized. They will then receive the backpay as if they had gotten the promotion at the previous time.
Delaying commissions
A similar tactic is to delay commissions on sales. Some people make the bulk of their income through commissions, so it can dramatically change how much your spouse earns over a given time period.
Creating business debt
If your spouse is a business owner, they could also try to create false business debt. This makes it look like their business is earning less income or revenue than it actually is. They are essentially using the business as a shelter to hide these personal assets.
These are just a few examples to keep in mind. If you think your spouse is hiding assets, be sure you know about all of your legal options.
