Hiding money or assets during a divorce is not only unethical, it is also potentially illegal. Michigan law requires both spouses to share all financial information in divorce proceedings.
If someone lies about income, assets, or debts, the court may penalize them. A judge might award you to order your spouse to pay your legal fees if you are found to have intentionally hidden assets. Likewise, if the court finds proof of fraud by your spouse, your spouse could face fines or even criminal charges.
An experienced divorce lawyer from Kraayeveld Family Law can help you gather evidence and protect your rights if you think your spouse is hiding cash in a divorce.
Signs Your Spouse Might Be Hiding Assets or Cash
The list below includes common signs that a spouse might be trying to cover up cash, income, or other financial resources during the divorce process.
Even one of these could be a sign that something more is going on behind the scenes:
- Unexplained withdrawals – Taking out large sums of money from bank accounts without telling you why
- Overpaying taxes or debts – Making extra payments to the IRS or creditors that could later result in refunds after the divorce
- Claiming a sudden drop in income – Claiming that they earn less now, even though nothing about their job has changed
- Delaying bonuses or promotions – Asking their boss to hold off on paying extra income until after the divorce is final
- Creating fake business expenses – Recording personal costs as business losses
- Giving “loans” to friends or family members – Saying that they are helping someone out while never showing paperwork or proof of repayments
- Buying items that can hold value long-term – Changes in spending habits, such as one spouse spending money on jewelry, art, collectibles, or other expensive purchases instead of keeping it in cash
- Accruing and keeping large amounts of cash – Converting some of each paycheck into cash and keeping it in an undisclosed location
How to Find Hidden Assets During Divorce in Michigan
Our experienced divorce lawyers know how to find out if your spouse is hiding assets during a divorce. We want to help you look for missing money, fake debts, hidden accounts, or other ways your spouse might try to hide assets.
We can also review tax records, bank statements, credit card statements, and other financial documents to check for red flags. If your spouse owns a business, our attorneys can work with financial experts, such as forensic accountants, to review the business’s financial records. Our skilled family law attorneys can also ask the court to make your spouse answer questions under oath or provide more financial statements, if necessary. If your spouse refuses to share information, our divorce attorneys can take legal steps to uncover whatever is missing.
Is It Illegal to Hide Money from Your Spouse in Michigan?
Yes. Michigan law requires both parties in a divorce to share complete and honest financial details. Intentionally hiding money, lying about income, or leaving out assets on sworn financial disclosures constitutes perjury and can be punished by the court. If someone lies in court or signs false papers, that could count as fraud.
The judge could punish that person by ordering the fraudster to pay the other spouse’s court costs. In some cases, the person who hides money could even face criminal charges.
If you think your spouse might be hiding assets in a divorce, talk to our lawyers to find out how we can help you report the issue and take action.
Talk to a Michigan Family Lawyer About Hidden Assets in Divorce
If you think your spouse is hiding money, do not wait to seek answers. Kraayeveld Family Law knows how to uncover hidden assets during divorce cases and can help you explore your legal options.
Contact us now to arrange your initial consultation and learn how our experienced family law attorneys can help you protect what is yours.
