Pennsylvanian couples with a lot of assets to share can enjoy the abundance while they’re together, but these high assets can become a serious hurdle if you decide to divorce. We at The Law Offices of Campana, Hoffa, & Morrone P.C., are here to discuss the potential danger of asset hiding.
The process of dividing up your assets is important for many reasons. Not only does it determine who gets to keep what, but it also determines the amount of money the paying ex-spouse will cover when it comes to alimony or child support payments.
Unfortunately, in order to “cut costs”, there are situations in which an individual ordered to make support payments will attempt to hide some of their assets. By doing so, they falsely make it look as though they make less money than they do. Therefore, the courts will order them to make a smaller payment.
Assets can be hidden in numerous ways, as well. You may have reason to be suspicious if your spouse suddenly begins buying expensive items, paying back supposed debts owed to family members or close friends, or refuses to hand over financial documents like tax forms and bank slips. People can get creative when hiding money, so it can be worth looking into if you have any sort of inkling that this may be happening.
Handling high asset divorces can be difficult, especially if your partner isn’t playing fair. If you find yourself in a situation like the ones listed above, consider taking a look at our web page on divorce, linked above.