4 ways your husband may try to hide assets
If you are a stay-at-home mom, you have likely forgone a career to care for your husband and children. While raising good kids is both noble and fulfilling, you must think about your financial standing in the leadup to your divorce. That is, you should receive your fair share of marital wealth.
In Ohio, family court judges distribute marital property pursuant to what is equitable for each spouse. Of course, you can only advocate for your fair share of marital property if you know it exists. Unfortunately, an unscrupulous husband may try to hide assets before and during your divorce proceedings. Here are four ways your husband may try to stash marital wealth.
- Adding to his collection
While there is nothing wrong with collecting stamps, coins, artifacts or virtually anything else, your husband may use marital assets to add to his collection. If your spouse goes on a buying spree, he may be tying up assets in a way that is hard both to discover and distribute.
- Decorating his office
Everyone wants to work in a welcoming and aesthetically pleasing environment. Still, if your partner uses marital funds to decorate his office, he could be hiding assets. Meanwhile, new artwork, carpeting, furniture and other items for the office may deplete the amount of marital assets you can seek during a divorce.
- Being too generous
If you and your spouse have a savings account, your partner may become overly generous with it. That is, he may decide to make loans to friends, family members or business ventures. If repayment comes after your marriage dissolves, you may see none of it.
- Establishing dummy accounts
Your husband may be in the middle of an extramarital affair. If he uses his new love interest’s Social Security number and other personal information to create dummy accounts, tracking down transferred marital wealth may become difficult. Still, if the money comes from marriage, you should receive your fair share of it.
As you can see, an unscrupulous spouse has a variety of ways to hide marital assets. If you suspect your husband is not being truthful about your marital wealth, you may have to work diligently to uncover the deception and receive what you deserve.
