When you decided to file for divorce in a Connecticut court, you knew it would affect not only your own life but your children’s as well. You also believed, however, that, with the proper guidance and strong support network in place, you and your kids would be able to leave the past behind and move on to a new lifestyle in as healthy a manner as possible.
You had hoped that your spouse would cooperate and compromise, as necessary, to achieve a fair settlement and co-parenting plan. You now suspect he or she isn’t playing by the rules regarding marital assets. Perhaps you’ve noticed certain signs that your spouse might be trying to hide assets, so you don’t get them when the judge issues a property division ruling. It’s critical that you understand your rights and know where to seek support to help protect your interests.
Hiding assets in divorce is illegal
Not only is it mean-spirited to try to beat the system and gain the upper hand in property division proceedings, it is illegal to try to hide assets in divorce. For instance, if you have a joint bank account with your spouse in a Connecticut bank, and you suspect your spouse is making withdrawals without your consent, it definitely warrants further investigation and action.
The court doesn’t take lightly to a spouse who disregards state law. If your name is on a bank account, then the money in the account belongs to you as well as your spouse.
Other common ways that spouses hide assets
Maybe your bank account isn’t the only issue. Your spouse may also try to hide money by overpaying on a credit card balance, depositing money into your child’s account or by telling you he or she is paying back or making a loan to a relative or friend.
These are all common means for hiding assets in divorce. You might also want to closely review your tax forms and any payroll accounts, if you happen to be business owners. Overpaying taxes and creating ghost employees are also ways that spouses try to hide assets in divorce.
Connecticut property division rules
This state operates under equitable property rules in divorce. That means the judge overseeing your case will determine a fair way to split your marital assets, although the division may not necessarily be 50/50. If your spouse is hiding assets, you may not get your fair share.
Just remember that the law is on your side if your spouse is trying to beat you out of property or assets to which you may deserve in a divorce. Try to stay calm and know where to seek support to bring a hidden asset problem to a halt.