Navigating the divorce procedure can be complex for all parties. First, where children are involved, parents will want to come to an arrangement that fulfills the best interests of the child. After that, financial matters might become the priority.
The state of North Carolina imposes a system of equitable distribution. This means that the courts will divide property in a manner that they deem to be fair to everyone involved. For this system to function, everyone needs to be honest about their assets and financial situation. Sometimes, a spouse may attempt to conceal assets in an attempt to lessen the financial cost of divorce. Outlined below are some clues that your spouse might be hiding assets.
Covering their tracks
Perhaps you and your spouse utilized computer programs or online banking apps to stay on top of your finances when you were together? Has the designated computer mysteriously disappeared or crashed? Maybe all traces of apps and programs have been erased? This is a sign that something is amiss and that your spouse may be plotting to conceal information from the courts.
Extravagant gifts to family members
Unfortunately, your former partner may be determined that you do not get a fair financial settlement. They would rather gift money and property away than see it fall into your hands. It could also be a plot to eventually restore their wealth, once the divorce has been finalized. They may have only gifted items temporarily.
Ensuring that the courts have an accurate picture of your spouse’s finances is the only way to gain a fair settlement. If you feel that assets are being hidden, there are legal options open to you.