Why is your spouse hiding assets?

On Behalf of | Feb 28, 2019 | child support | 0 comments

Tennessee parents like you have a lot of financial decisions – and sacrifices – to make when you are finalizing the terms of your divorce. Child support payments are one major area of contention, and you may find yourself with quite a conundrum if you are suspicious that assets are being hidden from you.

FindLaw states that it is actually not entirely uncommon for one spouse to try making it seem like their assets are lower than they really are. There are a few reasons why people engage in this kind of deception. However, in the case of child support matters, it is likely done so that the spouse won’t have to pay as much.

Child support payments are determined based on a combination of factors. A major component is assets: both your own, and your spouse’s. The court will use how much money you both have and make in order to determine what a fair payment could be. Therefore, by making it appear as though they have less than they do, they can lower the amount they are required to pay.

Signs of hidden assets can be easier to spot if you know what to look for. Signs of deception can include a person suddenly needing to “repay debts” to family or friends, unexplained receipts or bank activity, or errors and omissions made when assets are disclosed at the start of the divorce process.

If you believe your spouse may be hiding assets, consider speaking with an attorney for more information. You deserve payments that accurately reflect the financial status of both yourself and your partner.