8 Ways Spouses Conceal Assets in Divorces

 

Here are eight of the many ways that one spouse can try and disguise, hide or undervalue assets in an attempt to cheat the other spouse out of an equitable settlement:

Conceal Assets in Divorces

  1. Failing to report income on tax returns and financial statements.
  2. Keeping cash or travelers’ checks in safe deposit boxes.
  3. Furnishing business offices with expensive antiques, paintings, or rugs.
  4. Asking his or her employer to delay bonuses, stock options, or raises until the divorce becomes final.
  5.  Establishing secret retirement accounts.
  6. Paying salaries to nonexistent employees, with the checks voided after the divorce.
  7.  Making business payments to a relative or close friend for non-existent services, with the money given back after the divorce.
  8. Delaying business contracts until the divorce is final in an attempt to lower the value of a business

 

Also Read  Uncovering Hidden Assets in a Divorce. Click Here
Bonfiglio Asterita Law. Divorce Lawyers in New York and New Jersey.
Conceal Assets in Divorces

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