There are husbands who hide their assets while divorcing their wives. And the reason for this is known by everyone. It’s simple; they have to shell out less as alimony or settlement amount.
The victim who comes to understand that her husband has tried to hide the actual assets mostly keeps quiet.
Why do women keep quiet?
Firstly, they are shattered due to the pain of divorce, or else they are too occupied with the kids out of the marriage, and they don’t want to get into a deeper trouble by digging the issue too deep. They start blaming themselves and accept whatever settlement comes their way.
What should they do?
These days there is a concept of “financial portfolios”. This is a story narrator of the entire assets a couple holds. So, the wise thing is to keep a track of all the movements on financial track.
Understand the financial planning which both husband and wife made during happy days, the investments which were made and the status of those investments in the current scenario.
Most importantly, you must get associated with an expert team for consultation on legal and financial matters.
Why your husband did get a chance to hide assets?
You never felt the need of peeping through the financial portfolio all your married life because you trusted him and never anticipated such a day in life where he would be cheating upon you even financially.
What made you realize that your husband is hiding the assets?
- No financial statements or documents are delivered at the residence.
- You have been told that there is a cut in his salary for unknown reasons. He may have deferred his bonus and other benefits till the time he gets the divorce case settled down.
- Suddenly if your husband has transferred a certain some of money to your child’s account which he never did before.
- He has paid more than required taxes with an intention that it would be refunded back to him, and by then the divorce would come to a settlement.
- Your husband may start showing a loss in business, if he owns one and suddenly on paper the business may come to a retrogressive mode.
Why did he hide the assets?
He may be feeling unsecured thinking about the post-divorce scenario.
He may be trying to take revenge because you were caught with another man in your life.
He may be a selfish and unethical person who does not want to share his belongings with anyone else, even if it is rightful to you.
He does not want to share his holdings with the ex-wife and want to make the divorce as “cost effective” as possible.
What should you do while filing a divorce case?
If you have retained a copy of the financial portfolio then you can submit it to the court for a clear understating.
You must inform the court about your lifestyle so that a comprehensive settlement can be made in your favour.
You must consult a forensic accountant who can help you to retrieve all the financial documents.
You must submit a copy of the tax returns filed by your husband.
What is the benefit of informing the court about your lifestyle?
The court when analyses your lifestyle, it can get enough evidence to charge your husband if he is hiding any asset or not.
The court and the attorney will also ensure that you get to spend the same lifestyle even after getting divorced and the orders would be made accordingly.
Hiding assets is a common feature these days. There is large number of cases when a highly educated woman too is found to get victim and settles down for much less than what she actually should have. Advisable step is to consult an expert and keep your eyes and ears open while preparing for divorce.