Giving You Strength And Compassion On Your Legal Journey

How can I spot concealed assets in my North Dakota divorce?

On Behalf of | Oct 23, 2024 | Divorce

Divorce can turn your financial world upside down, especially when it comes to splitting assets. North Dakota law requires both spouses to disclose all their assets for fair division.

But sometimes, a spouse might try to hide assets to keep more for themselves. Knowing what to look for can help you protect your interests and get a fair shake in your divorce settlement.

Be on the lookout for these red flags

Uncovering hidden assets often feels like solving a puzzle. To help you piece things together, here are some warning signs that might mean your spouse is hiding assets:

  • Unusual spending: Has your spouse suddenly started splurging on big-ticket items or making odd purchases? This could be a way to burn through shared money or turn cash into hard-to-trace goods.
  • Secret accounts: Finding bank statements or credit cards you’ve never seen before? These might be hiding spots for squirreled-away cash.
  • Funny business: If your spouse owns a business, watch for unexplained dips in income, mysterious new “employees,” or clients who seem to be taking their sweet time paying up.
  • Paycheck shenanigans: Is your spouse’s company holding onto bonuses or commissions until after the divorce? This might be a ploy to keep that money out of the asset pot.
  • Generous gifting: Suddenly showering friends or family with expensive presents? Your spouse might be trying to park assets with trusted friends until the dust settles.
  • Crypto craze: A new obsession with Bitcoin or other digital currencies could be an attempt to stash cash where it is hard to find.
  • Overpaying debts: Throwing extra money at credit cards or loans? Your spouse might be planning to get that cash back later.
  • New hideaways: Keep an eye out for mysterious P.O. boxes or storage units that could be hiding financial papers or valuables.

If you spot any of these red flags, start keeping tabs. Remember, the goal is to make sure everything’s on the table when it’s time to divide assets.

By staying alert and working with professionals who know the ropes, you can protect your financial future and work towards a fair outcome in your North Dakota divorce.