Perhaps you can relate to other New York spouses who say that serious trust issues were the primary reason they decided to end a marriage. If you can’t trust your own spouse, who can you trust? On the other hand, there may have been other problems in your marriage that prompted your decision to file for divorce. In any case, trust is a factor when it comes to property division proceedings.
In order to achieve a fair settlement, you and your spouse must fully disclose all assets and liabilities. If you suspect that your soon-to-be ex is trying to give you the short end of the stick financially, you might want to conduct a thorough review of all bank statements, investment accounts and, especially, your recent tax returns.
Hiding money through the IRS is a nasty trick, but it happens
Having to track down money that you believe you’re entitled to in a divorce may intensify the stress, sadness or anger you already feel as you prepare to readjust your lifestyle. While no one wants to believe that a person he or she has been married to would hide money to keep it out of property division proceedings, it’s always best to act on your instincts if you’re concerned about such issues.
You can carefully review tax returns. It’s possible to hide assets this way by using an “estimated tax” payment option, online. A spouse who wants to stash cash can intentionally make an overpayment, then not file tax returns, until after the divorce. If your spouse were to do this, there could be a nice chunk of money sitting in waiting that would go to him or her as a refund after paying back taxes.
Ask questions, and make sure you’re satisfied with the answers
It’s a good idea to ask your spouse specific questions, if you suspect that something seems “off” with your tax returns or that he or she is hiding money to keep you from getting your fair share when you split marital assets in divorce. If you’re not satisfied with the explanation your spouse provides, you can further investigate the matter.
Divorce is never easy, but you shouldn’t have to deal with deceit and unlawful behavior during property division proceedings. No one should have to experience that kind of stress. If you suspect a problem, it’s always better to get to the bottom of it before heading to court, which might include seeking outside support to help you confirm or rule out your suspicions.
