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Hiding assets in divorce can lead to unequal distribution

On Behalf of | Aug 21, 2014 | Divorce |

Money quite often plays a major role in the breakdown of a marriage, according to many statistics. Connecticut residents know that, apart from child custody, one of the most contentious parts of a divorce may be asset division. Here in Connecticut, the precept of equitable distribution means that it is up to the court’s discretion to divide marital assets according to what is deemed most fair, but of course that determination can only be made accurately if both parties are honest about what assets they have accrued.

The sad reality is that people can be dishonest in divorce situations, and that sometimes means hiding assets to prevent them from being counted toward asset division. In the modern era, this is more difficult than in years past, thanks to the electronic trail left by most transactions. There are a variety of ways for spouses to sniff out asset dishonesty, from planting spyware on a spouse’s computer to simply paying close attention to unusual charges on bank statements.

Additionally, if an individual believes that a soon-to-be ex-spouse is lying about his or her assets, it can be helpful to secure the services of someone with a background in seeking out this sort of dishonesty. The support of a professional can be extremely valuable since it is not always easy to uncover hard evidence of asset hiding. As with most things, it is often better to be safe than sorry.

The reality of divorce is that it is not always amicable, and sometimes it can even devolve into the kind of deceit required to hide assets. Connecticut residents can be faced with an unfair distribution of their assets if they are unaware of their spouse’s activities. Therefore, gathering as much information as possible ahead of filing can be very beneficial.

Source: The Huffington Post, “Uncovering Hidden Assets in Divorce Litigation”, David Centeno, Aug. 15, 2014

Source: The Huffington Post, “Uncovering Hidden Assets in Divorce Litigation”, David Centeno, Aug. 15, 2014