Regardless of whether or not your divorce is contested or uncontested, it is unlikely to be a pleasant experience for you. At the end of the day, your marriage is still ending, and that can be an emotional experience for all involved, especially if you’re not the one who filed. As you navigate the process, you may learn that your spouse has more assets hidden away than you thought. To ensure your spouse isn’t hiding assets, speak with a Springfield divorce lawyer.
Hiding assets in a divorce can be considered a crime in Missouri. Not only is it illegal for your spouse to do so, but it can also cause your spouse to be vilified by the family court.
There are certain expectations of trust and respect that must be upheld in every courtroom. Hiding assets breaches that trust and throws away that respect. If anything, it may make things much more favorable for you if the court decides to pursue criminal charges against your spouse for hiding marital assets in a divorce.
Dividing Assets in Missouri
In a Missouri divorce, assets are distributed according to the model of equitable distribution. In this model, the court separates the marital assets in what it deems to be a fair and balanced division. However, this does not always mean the asset division is equal.
To determine how much each spouse deserves in the split, they will consider many different contributing factors, including the total length of the marriage, each spouse’s contribution to the marriage, and their monthly incomes.
Once the asset division stage begins, each spouse is expected to provide a complete and honest list of all finances and personal assets. Any attempt to withhold assets to try to keep your spouse from benefiting from them may result in admonishment from the court or even criminal charges. Choosing to hide assets from your spouse may be considered a form of financial abuse, which may then be seen as a form of domestic violence.
Protecting your finances is one thing, but hiding assets is something else. In a 2022 study by the CDC, it was revealed that Missouri has one of the highest divorce rates in the country, with a divorce rate of 2.7 per 1,000 residents. The marriage rate, however, was around 5.8 per 1,000 residents just a year later, according to the Missouri Department of Health and Senior Services. If you are having issues with your divorce, a local support group like Divorce Recovery can help you.
Warning Signs of Hidden Assets
Not every divorce will result in one spouse trying to deliberately hide assets. However, you should always be prepared if your spouse does try to do it to you. There are many different behaviors that could be considered warning signs that your spouse is hiding assets from you. It’s vital that you document these signs and consider investigating further. Here are some of the possible warning signs that your spouse is hiding assets from you:
- If your spouse is the only one controlling the money in the relationship, that can be a red flag that they are hiding things from you, especially if you have joint finances. If your spouse insists on being the only one who manages the money in your marriage, that may indicate financial abuse. If you have no access to the joint accounts, you need to find a way to gain access and see for yourself exactly how much money is being hidden from you.
- If your spouse absolutely refuses to speak with you about money in any way, that could be a sign that they have something to hide. There’s nothing inappropriate or inherently uncomfortable about talking about money. If your spouse acts like it’s a taboo subject, they may be attempting to dissuade you from even asking about it or gaslight you about the state of your finances. Try to overcome this and investigate the finances for yourself.
FAQs
Q: How Can I Investigate My Spouse’s Finances?
A: There are many different things you can do to look into your spouse’s finances for yourself. If you have joint finances with your name on them, you may be able to access the accounts through your bank. You may want to consider hiring a private investigator or a forensic accountant to comb through your spouse’s financial records to look for discrepancies. You may also want to start with a divorce lawyer.
Q: What Is One Red Flag That My Spouse Is Hiding Assets?
A: Everyone’s marriage is different, so everyone may have different red flags to look out for in their relationships that can indicate hidden assets. Above all, the biggest red flag is secrecy. Many couples insist on having no secrets in the relationship. If your partner starts being secretive about your finances, there may be an issue with them that needs your attention before it becomes a real problem.
Q: Is It Illegal to Hide Assets in a Divorce in Missouri?
A: Yes, it is illegal to hide assets during a divorce in Missouri. Both parties are expected to be totally transparent with their finances and assets. If, at any point, the court discovers that somebody is deliberately hiding assets, they could face serious legal penalties, including hefty fines and even jail time. Additionally, they will now be seen as the bad guy by the court, which will consequently favor the other spouse.
Q: Should I Get a Lawyer to Help Me?
A: Yes, you should consider hiring a lawyer to help you with your divorce, especially if you discover that assets are being hidden or you begin to suspect it. A divorce lawyer’s job is to help you successfully navigate your divorce and ensure that you aren’t taken advantage of by your spouse’s legal team. They can help you uncover hidden assets and decide what to do with that information.
Reach Out to a Lawyer Today
At Stange Law Firm, we understand the kind of legal help you will need to figure out your divorce. If your spouse is hiding assets, we can help you figure out what to do next. Contact us to speak to a member of our team about your case.
