Dealing with a divorce can be a humiliating experience, especially if you are the jilted spouse. You may have been perfectly happy until something happened to tear apart that happiness and push you to file for divorce. It’s understandable to feel betrayed, confused, and angry about your circumstances during this time. It’s possible your spouse may try to make things as difficult for you as they can by hiding assets. A Kentucky divorce lawyer can help you make a plan.
In Kentucky, hiding assets in a divorce is considered a crime. It’s illegal for one spouse to intentionally fail to disclose all marital assets during the discovery phase of your divorce. Breaking the law is bad enough, but hiding assets can also cause your spouse to lose the respect of the court. They may now see your spouse as the bad guy in all this, which can help you get a better settlement and even a custody arrangement that heavily favors you.
Why Hire a Lawyer?
It can be overwhelming to deal with every aspect of a divorce. You may not know exactly what you need to do to protect yourself. It’s essential to hire someone to handle the finer details. At Stange Law Firm, our multi-state team knows the most effective ways to help you work through your divorce. We have helped numerous clients across multiple states navigate the aftermath of their own divorces. We can help you make a strong plan for your own case.
Recent data from the World Population Review shows that the marriage rate in Kentucky is quite high, at approximately 48.8%. At the same time, the divorce rate in Kentucky is also considerably high.
In fact, Kentucky’s divorce rate is one of the highest in the entire country at 3.0 per 1,000 residents as of 2022, according to data collected by the Centers for Disease Control (CDC). Understanding certain statistics can make you feel less alone in dealing with your own divorce.
It’s perfectly okay to want help in dealing with the mental and emotional side of your divorce. Moving through a divorce without facing your own feelings of betrayal may not be entirely healthy. You may want to consider reaching out to a local divorce support group, such as Divorce & Beyond or Divorce Recovery. Talking to someone about your case may be beneficial to your healing journey, especially if it’s someone who has already walked a similar path.
Hiding Assets in a Divorce
It’s not uncommon for one spouse to try to cheat the other out of marital assets that they feel entitled to. The higher the value of the assets, the higher the chances that your spouse may try to ensure they get them in the divorce, even if they have to hide them away. If your divorce came out of pre-existing money problems, you may want to take extra precautions to ensure that your spouse is being entirely truthful about their finances. Here are some signs to watch out for:
- One of the strongest indicators that your spouse is hiding assets is financial control. If your spouse insists on being the only one in the marriage to handle money or control the joint accounts, that may be a red flag that they are hiding something from you regarding the finances. If you do not have access to your own funds, you need to gain access immediately and discover how much is being withheld from you.
- Another strong indicator is financial secrecy. There’s nothing inherently taboo or inappropriate about talking about money. If your spouse has tried to convince you that talking about money is wrong, that may be a sign that they don’t want you looking too hard at where your money is going or what it’s paying for. Find a way to access your own money and don’t let your spouse talk you out of it.
FAQs
Q: Can a Divorce Lawyer Help Me Investigate My Spouse’s Finances?
A: Yes, a divorce lawyer can absolutely help you investigate your spouse’s finances. During the divorce discovery process, your lawyer can include a demand for certain documents that reveal the full extent of your spouse’s financial information. This includes bank statements, tax records, and other relevant business records. If your spouse refuses to turn over this information without a fight, your lawyer can subpoena the bank to provide it anyway.
Q: What Is an Obvious Sign That My Spouse Is Hiding Assets?
A: Unfortunately, there is no obvious sign that your spouse is hiding assets. Some spouses may be so good at hiding financial information from you that you can’t even tell they’re doing it. Others may be so bad at hiding it that you’re suspicious from the start. Every case is different, and every money-hiding spouse approaches it in a unique way. Generally, financial secrecy is a clear red flag, but there are no guarantees.
Q: Is It Illegal to Hide Assets in a Kentucky Divorce?
A: Yes, it is illegal to hide assets in a Kentucky divorce. When you get divorced, the court expects both spouses to be completely transparent about everything relevant to the proceedings. This includes disclosing all marital assets to the court and not concealing any information. If your spouse is caught hiding assets, they could face legal penalties and will likely lose the respect of the court, resulting in favorable terms for you.
Q: Do I Need to Hire a Divorce Lawyer?
A: Technically, you are not legally required to hire a divorce lawyer. However, it is highly recommended that you do so anyway. You should have legal protection by your side at any time you are dealing with some sort of legal issue, including a divorce. Having the right lawyer by your side throughout the proceedings can make a significant difference and provide you with the necessary protection.
Contact a Lawyer
At Stange Law Firm, we understand the kind of legal help you will need to come out on top in your divorce. If your spouse is hiding assets, we can help you uncover them. Contact us to speak with a member of our team about the ways we can assist with your case.