Pursuant to Georgia law, your marital estate is subject to equitable division when you and your spouse get divorced. An equitable division is one that’s fair but not necessarily even. This leaves the door open for extensive argument and negotiation over what sort of property division arrangement is proper under the circumstances. But all of that is predicated on knowing which assets fall into the marital estate. That said, if you’re not careful, your spouse could keep assets from you so that they don’t have to divide them with you through your marriage dissolution.
Signs that your spouse is hiding assets
It’s improper to hide marital assets during the divorce process. Yet, your spouse might get away with it unless you call them out on what they’re doing. Therefore, as you prepare to head into your divorce, you should be on the lookout for these red flags that assets are being hidden from you:
- Financial transactions on jointly held accounts that have no explanation.
- Sudden changes in business income, debt, or both.
- The transfer of asset ownership to your spouse’s friends or loved ones.
- An unexpected increase in your spouse’s individually owned debt.
- Income records that are inconsistent.
- Lack of documentation related to certain assets or major financial transactions.
- Changes in your spouse’s lifestyle.
- An unwillingness to discuss finances and to share financial records.
There might be other red flags that come up in your divorce. So, stay alert and be sure to investigate further if you suspect that your spouse is hiding assets from you.
Protect your interests throughout your divorce
There’s a lot that can go wrong during the divorce process. But you can protect yourself with adequate preparation and knowledge of the law. That’s why you might find it beneficial to read up on these matters further and secure any assistance that you might need.