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Watch out for hidden assets in divorce

On Behalf of | Nov 1, 2022 | Divorce

When an Indiana married couple decides to divorce, they must disclose all their assets and liabilities to each other.

Indiana requires this property division to be “equitable,” but not necessarily equal. For instance, in a marriage where one spouse earns a much higher income than the other, even a perfectly 50/50 split will leave one spouse at a disadvantage. To get around this problem, many people going through a divorce will negotiate a split that looks more uneven on paper, but is more fair in practice.

Unfortunately, some people who are faced with this type of situation will try to hide assets. The idea is that, if their ex doesn’t know about the assets, they won’t know to ask for a percentage of them in the divorce.

Concealing assets this way is illegal, and it can create a lot of frustration.

What to look for

If you suspect your ex is trying to conceal assets from you in your divorce negotiations, it’s hard to know when and where to look.

Perhaps the first step should be to ask yourself whether your ex would do such a thing. One common reason marriages break up is financial problems. If your spouse lied about their finances during the marriage, it’s a possibility they’ll lie during the divorce.

One of the ways to try to locate concealed assets is by issuing interrogatories. These are formal requests for information. You can use them to have your ex to disclose, under oath, the nature and extent of his assets.  A lawyer with experience in tracking down assets can help you examine your options.