Some divorces are not amicable. When spouses cannot agree to end a marriage peacefully and there are major assets involved, one spouse may attempt financial fraud. This can be done in a variety of ways. Assets can include tangible and intangible assets. This is why it is a good idea to know what things might be signs of attempts to conceal assets. Spouses who attempt to defraud the judicial system could be held accountable and sanctioned or imprisoned. The following points represent a few things that could be signs that a spouse is attempting to swindle another spouse in a pending divorce.
Destruction of Property
If there are valuables that are physical property, a spouse might attempt to damage items and render them useless or lower their value. This might be the case if there is expensive jewelry, boats, and luxury cars. Some spouses might also intentionally damage the family home if they fear that the other spouse will be granted permission to continue to dwell in it. The goal is often to lower the value of the assets or feel a form of justification if they do not think they will get awarded the tangible assets.
Gifts of Large Sums of Money or Valuables
Large sums of money might be given to family members or friends. This tactic may be used by "bitter" spouses who desire to lower the total value of assets. It is considered fraud because many of these individuals make plans to get the money back when they get the final divorce decree. Another fraud attempt of this type is to gift expensive jewelry to family or friends.
Use of an Alternate Address
A spouse who decides to use an alternate mailing address might be hiding a slew of things. Among the most common things concealed are financial accounts. However, it might also be an attempt to conceal newly purchased property. If the spouse has a business, the alternate address could be used to hide information pertaining to the business such as new contracts or other financial information pertaining to the business.
Refusal to Discuss Finances
Some spouses will refuse to disclose their financial information. However, there are legal ways to get the information. A spouse who refuses to discuss finances might be hiding assets. If they are clever, they might transfer funds to accounts that an unassuming spouse does not know exists.
There are many other ways that some spouses attempt financial fraud. A family law attorney is a good resource to use if you suspect financial fraud. Contact a family law attorney for more information.