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When Washington property division problems involve hidden assets

On Behalf of | Aug 7, 2018 | Firm News, Property Division |

Many Washington spouses encounter challenges when navigating the family justice system, especially regarding divorce. It’s never an easy process, and when one spouse is out to get revenge on the other or is trying to gain the upper-hand in property division proceedings, things can messy. If anyone reading this post is worried about possible hidden assets in divorce, there are several issues to pay close attention to when trying to confirm a suspicion or gather evidence to catch a spouse in the act.  

Spouses trying to beat the system concerning marital assets in divorce may make one or more expensive purchases, which they will then attempt to undervalue. For instance, if a spouse suddenly adds numerous pieces to an art collection or buys another high-end item, such as a piece of jewelry or an expensive oriental rug, it may be a sign that he or she is attempting to hide assets. Another common means for hiding assets is to overpay on federal tax returns.  

If a spouse does this, he or she can delay the refund until after the divorce is finalized. Overpaying on a credit card balance is a similar way to stash cash. Sometimes, people literally hide money in safe deposit boxes, closets or desk drawers. An asset-hiding spouse may also feign payback for a supposed loan when, in fact, he or she is really having a friend or family member hold onto money until the divorce is final.  

Washington is one of only nine states that operate under community property division laws, meaning all marital assets are typically split 50/50 in divorce. Hiding assets is not only mean spirited, it is illegal. Anyone facing such problems may reach out for legal support to help gather evidence and bring the situation to the court’s immediate attention.