Photo of Professionals at McCoy Fatula, APC
Photo of Professionals at McCoy Fatula, APC

Is your spouse trying to stash cash in divorce?

On Behalf of | Apr 14, 2018 | Uncategorized

When you stumbled across the text message between your spouse and a mutual friend of yours, you didn’t think much of it at first. It seemed to suggest a planned meeting to transfer some money. You asked your spouse about it later and were a bit taken aback at the defensive reaction that ensued. As you thought it over again later, you realized it was not the first strange issue that’s popped up since you filed for divorce.

You also recalled acting surprised at the bank when the teller explained to you that another party had recently withdrawn a substantial amount of money. It’s a joint account, but you were not aware that your spouse was taking money out, and it has always been the practice between you to discuss such matters first. Such instances are often signs of a hidden asset problem. If you think your spouse is trying to keep assets from division proceedings, it warrants investigation and also outside support, if needed.

Cryptocurrency accounts are a good place to begin your search

Advanced technology definitely allows convenience and swift action when it comes to monetary transfers. At the click of a button, you can wire funds across the world. It also happens to be a tool spouses often use to hide assets in divorce. The following information may be useful in your situation:

  • A forensic accountant is a good asset to have on hand if you want to go digging for hidden assets online. Such a person may be able to help you prove that your spouse converted funds from a marital source to cryptocurrency without your permission, you may have grounds to file a hidden asset complaint.
  • An experienced attorney can act on your behalf to request your spouse’s full disclosure of all cryptocurrencies during the discovery process.
  • As for giving money to a friend or relative, spouses often hide assets by feigning payback of loans that never took place to start. The text you discovered may be evidence of a setup to make the hidden asset transaction appear legitimate.
  • Other means for hiding assets include understating the value of luxury items, such as jewels or artwork. It’s also common for those trying to deceive the court to postpone incentive pay work or bonuses from a paycheck.

When you decided to divorce, you likely felt as many California spouses do in similar situations, that is, you merely wanted to navigate the process in as swift and economically feasible a fashion as possible, then move on with your life. You expected to encounter a few minor disagreements regarding family matters but you never in a million years thought your spouse would go so far as to hide assets to gain the upper hand in a settlement.

Remember that not only is such behavior mean-spirited, it is also illegal. The law protects you from unlawful divorce actions and you can take immediate steps to bring the problem to the court’s attention.

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