You must disclose all assets and debts to ensure a fair divorce settlement for both parties. Arkansas is an equitable distribution state that determines a division of the marital estate based on several factors.
If your spouse conceals assets during the divorce process, it can negatively impact your final settlement. Pay attention to signs indicating your partner is hiding essential details about your finances.
Expensive purchases
Suppose your spouse is buying costly possessions or spending more than usual. In that case, your partner may be selling investments or emptying bank accounts to purchase valuable items such as jewelry or art.
Unusual account activity
You may notice uncommon withdrawals or transfers from your joint bank accounts. Or, perhaps your spouse is overpaying credit cards, taxes or loans in an attempt to redirect marital funds.
New post office box
A private post office box can provide a way for your partner to hide financial account information, bills and other essential documentation from you.
Mysterious new debts
If your spouse makes payments to friends or family for debts you did not know about, this could signify deceit. The friends may plan to pay the money back to your partner following the divorce. The same concept may apply to expensive gifts your spouse gives family or friends.
Missing information or assets
If your financial records disappear due to an event that seems strange, your spouse may be trying to make it hard for you to discover details about your marital estate. If you can no longer locate valuable items, your partner may be attempting to reduce the number of assets available for equitable division.
Discovering your complete financial picture is crucial to secure a fair settlement in your divorce. There are many ways to find hidden assets to help you get the desired outcome.
