Exposing Secrets: Top Ways People Hide Money in Divorce

Divorce is undoubtedly an emotional and overwhelming process, particularly when it comes to dividing assets. While most people are honest and upfront about their financial situation, some will do anything to hide their assets and reduce the amount of money they give to their ex-spouse. It's time to expose some of the top ways people hide money in divorce and ensure you get what you deserve.

1. Lending Money to Friends

It's common for people to lend money to friends and family members when they are going through a tough time. However, during a divorce, some individuals use this as a way to hide money. For example, a spouse may lend a friend $50,000 with the understanding that the money will be returned after the divorce is final.

2. Delaying Bonuses or Raises

Another way individuals hide money in divorce is by delaying bonuses or raises until after the divorce is final. This technique is often used by high-earning individuals who want to reduce their spouse's share of the assets. They will request their employer to delay their bonuses or raises until after the divorce is final, or they will claim that they did not receive them, even though they did.

3. Overpaying Taxes

Overpaying taxes may seem like a good idea, but it can be a sneaky way to hide money in divorce. Some people intentionally overpay their taxes to create a refund that is not due until after the divorce is final. They can then claim that the refund is their own and not part of the marital assets.

4. Hiding Money in Business Accounts

It's common for people to own businesses in their name during their marriage. However, some individuals who are going through a divorce will hide money in their business accounts to reduce the amount of money given to their spouse. They may transfer money from a joint account to their business account or claim that they paid more in expenses than they actually did.

5. Using Cryptocurrency

While cryptocurrency is a legitimate way to store money, some individuals use it as a sneaky way to hide assets during a divorce. Cryptocurrency can be difficult to trace, which makes it easy to hide from your spouse and the court. This is especially true if one spouse created the cryptocurrency account and never disclosed it to the other spouse.

It's important to understand and expose these sneaky ways that people hide money during a divorce. Whether you are going through a divorce or a professional helping people through the process, educating yourself about these tactics can ensure that you receive a fair and equitable settlement. Remember, honesty is always the best policy, and those who try to hide their assets will ultimately get caught. So, stay alert and keep looking out for these tactics to protect your assets during a divorce.