There’s no fair share in divorce if everything isn’t on the table

| Mar 16, 2020 | Firm News |

Dividing your life from your spouse isn’t always a simple process, and splitting property can be one of the more complex parts. You’ll want to make sure you can get your piece of the pie, but that can be tough when your partner is hiding ingredients.

Financial infidelity isn’t uncommon, as studies reveal that up to 41% of adults have deceived their partner in some way. And when a spouse hides spending, conceals debts and moves assets around, this can make it nearly impossible to come up with a concrete idea of what property division should look like.

Setting standards

The courts will need to consider most of the property you gained during your marriage. This means from your first vows to the final action, you and your spouse will need to account for all your marital assets. A judge will then determine who gets what share. But when things are missing from the chopping block, it’s not likely you’ll be looking at a fair share.

Fair division

There could be all kinds of ways your spouse attempts to shelter property as you approach asset division, and most of them are likely illegal:

  • Reporting: Your spouse will need to clue the courts in on what assets they have in their name. Purposefully leaving out anything they don’t want to part with is usually against the law.
  • Spending: Splurging before the final count is another way to keep money out of your hands. Big-ticket luxury items can count solely against your spouse’s share when it comes time for division.­
  • Gifting: Giving away or selling far under market value to friends and family will probably draw ire from the courts. This might be a way to ditch assets, especially if they made an agreement for continued use of whatever they transferred.

You need a full picture to ensure you get your slice of the property in divorce. Make sure your partner has served up everything hidden in their pantry, and you could be one step closer to a satisfying conclusion.