Are you planning for a divorce in Michigan but concerned about how property division will work because you suspect your spouse may be hiding assets? Unfortunately, spouses often try to hide assets in a Michigan divorce to prevent them from being classified as marital property and divided according to the practice of equitable distribution in Michigan. When you are anticipating that you or your spouse will soon file for divorce, or if your divorce is already underway, it is essential to know the signs that may indicate your spouse is hiding assets. The following is a list of signs that your spouse may be attempting to hide assets in order to prevent their distribution in your divorce case. When you have concerns about hidden assets, you should speak with a divorce attorney in Michigan as soon as possible about ways of identifying and locating missing or hidden assets in your divorce case.
Your Spouse Insists Property Acquired During Your Marriage Was Obtained Prior to the Date of Marriage
As you may know, Michigan courts follow the rule of equitable distribution when it comes to property division in a Michigan divorce. This means that most property acquired after the date of marriage will be classified as marital property and will be subject to distribution in your divorce. If your spouse tries to insist that she or he acquired valuable property prior to your marriage and insists it is separate property, you should be especially careful about your spouse trying to hide assets.
Bills and Account Statements are No Longer Being Delivered to Your Home
Are paper statements for bills or shared accounts no longer showing up at your home? Your spouse could be attempting to hide or conceal assets.
Your Spouse Will Not Give You Online Access to Account Information
If you used to have access to shared accounts with your spouse and suddenly your access disappears, or if your spouse refuses to let you have access to shared account statements, it is possible that your spouse is trying to conceal your marital assets to prevent them from being distributed.
Funds Appear to be Missing from Shared Bank Accounts or Investments
When funds are missing from shared bank accounts or investments, you should speak with your divorce lawyer about bringing on a forensic accountant to locate this missing property.
Spouse Has Given Large Monetary Gifts to Family Members or Friends
Have family members or friends of spouse indicated that your spouse gave them a valuable gift of money or property? This could be marital property that your spouse is trying to conceal before property division gets underway.
Physical Property Inside Your Home is Missing
When valuable items within your home go missing before your divorce, you may have reason to suspect that your spouse is trying to hide assets.
Your Spouse Says She or He Did Not Receive an Expected Bonus or Says Earnings Have Dropped
Anytime a spouse suggests that she or he did not receive an anticipated bonus or had to take a pay cut shortly before your divorce, you should be suspicious about whether your spouse is trying to lead the court to believe that he or she has fewer earnings than he or she actually does.
Your Spouse Posts Photos on Social Media of New Assets
Has your spouse posted images of new and expensive property that could be sold at a later date? Your spouse could have purchased these items with the intention of avoiding the division of monetary assets.
Contact a Divorce Lawyer in Michigan
When you have concerns about a spouse potentially hiding assets, it is important to reach out to an experienced divorce lawyer in Michigan as soon as possible. While the possibility that a spouse is hiding assets is more common in high net worth or high asset divorces, spouses can attempt to hide or conceal assets regardless of the couple’s income or joint property. An advocate at our firm can speak with you today about locating hidden assets and, if necessary, bringing a forensic accountant onto your divorce team. Contact the Law Offices of Michael A. Robbins today to discuss your case.