Oregon couples who decide to get a divorce will have to split their assets up in an equitable or equal way. We at Mastanduno Law Group are here today to discuss a matter that high asset couples in particular may face: the hiding of assets by one spouse from another.
Some people ask whether or not it is illegal to keep some assets hidden from their spouse or refuse to share them. The answer is yes. It is illegal to hide assets from your spouse and you can get into trouble if you attempt to do so. Unfortunately, this doesn’t stop people from trying. It is an especially common problem in higher asset divorces due to the fact that missing assets aren’t noticed as easily. Some will take advantage of that to hide away what they can.
If assets are being hidden, there are most likely going to be signs that it is happening. This may come in the form of your spouse suddenly being hesitant to share financial information with you when they were open to doing so before. They might also change their spending or saving habits. If you notice a sudden change in how they deposit paychecks, manage daily or weekly living expenses, or spend “free” money, it may be more than just a coincidence.
Do you believe your spouse may be hiding assets from you? You may want to take a look at our web page on divorce law to learn more about your rights and options if you are facing similar circumstances.