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Is your spouse lying about their assets?

On Behalf of | May 21, 2020 | Divorce |

When Alabama couples decide to divorce, the process is often draining and messy. You may find out more information along the way that makes the divorce even more difficult to deal with. For example, a spouse may try to hide assets. 

When a spouse lies about their assets, they are breaking their financial affidavit. Unfortunately, not everyone cares about this. For this reason, you may want to keep an eye out for signs of this ploy. 

Is this an act of perjury? 

Business Insider discusses the possibility of financial infidelity. This is when a spouse tries to hide assets or lie about the money they bring in. Whatever the reason, hiding finances during divorce is illegal. In fact, it is an act of perjury. This is because you sign a financial affidavit at the start of the divorce. By signing this, you say you are telling the truth about your finances. If you intentionally lie despite this, the court can hold you in contempt. 

This often results in hefty fines and even time in jail when the person hiding assets gets caught. Not only that, but the court often orders them to give more to the spouse than they otherwise would have. It is important to know these consequences before taking action. 

Signs of hidden assets 

So what signs should you look for if you suspect your spouse is hiding assets? First, check to see if financial records match up. Next, pay attention to their behavior. Do they refuse to show you financial forms unless you force them to? Do they seem to go to their car or office often throughout the day? They may be hiding cash, if so. Finally, if you have strong suspicions, consider hiring a forensic financial specialist. They can tell you what your spouse’s financial situation truly looks like.