You probably do not need anyone to tell you that divorce can bring out a person’s worst behavior. Still, for those getting divorced in Broomfield, Colorado, it cannot hurt to revisit this issue, especially if you want to do all you can to ensure a fair property split.
One example of immoral behavior some spouses succumb to is the urge to hide assets to avoid dividing them. It is hard to define why people resort to this conduct. In some cases, they want to hurt the other spouse. Other times, they want to keep everything they can for themselves. Regardless of the reason, it is both unethical and unlawful to hide assets when divorcing.
Where can you look to find hidden assets?
If you suspect your spouse is hiding or trying to hide money or property, it is wise to act on your suspicions. Knowing where to look and what to look for can help you confirm your suspicions. Below are three common examples of where and how some people hide assets include:
- Valuable items: Sometimes, people will buy high-value items like art collections or antiques and then underreport their actual value. If you notice new purchases, find out how much they are worth.
- No-interest bonds: Another way some hide assets is to purchase certain bonds in which interest does not appear on tax returns. You may benefit from getting help investigating this possibility.
- False payments: One of the most common ways of hiding assets involves paying off debts or bills that do not exist. Usually, the spouse must enlist someone to receive these fake payments and return the money later.
You deserve a fair share of assets when getting a divorce, and the law agrees. Get help searching for hidden money or property, and consider learning more about marital property laws in Colorado.