Fair share in divorce means everyone shows their hands

On Behalf of | Jan 3, 2020 | Family Law |

When you decided you’re ready to part ways with your spouse, supporting yourself with your share of the assets likely came to mind. While the process requires everyone to put all their cards on the table for division, you might be right to suspect your partner is hiding something.

Over 40% of people have deceived their partners when it comes to money. From lying about debt to hiding bank accounts, people often keep their significant other in the dark about their full financial picture. Things aren’t likely to change once you seek a divorce. If you suspect you fall into this victimized category, make sure you have a sure handle on all the assets that should be up for division.

Financial infidelity

With all the ways you can move and manipulate money, you’re probably not going to find all those assets buried out in the backyard:

  • Stashing: Money that doesn’t show up on your balance sheet may go unnoticed. Foul play may be on the table if your spouse is hiding funds by temporarily gifting things to friends, boosting tax withholdings or setting up trusts that will hand the money back later.
  • Splurging: You’re waiting for your share, but your partner might be out there making sure there’s less of it to go around. If your spouse is making expensive purchases or contributing to another household, then those sums may only count against their final tally.
  • Scheming: It can be hard to keep track of every facet of your family’s finances. Money coming and going from several places can mean it’s hard to track everything, but your partner has to present accurate numbers for it all. Handing over incorrect valuations, fudging income numbers and stashing funds to hide value probably aren’t going to go over well.

The split of finances in Indiana may not always be equal, but it aims to be fair. This means getting your full share might rest on knowing the location and value of all the assets that the court could consider, so make sure you track it all down as the process begins.