Sometimes during a divorce, a spouse will realize that they need financial assistance and a financial data disclosure will take place. However, not every spouse will be forthcoming about the type of income or finances they have, which is when false data is provided to the court. This happens when a spouse hides marriage assets through offshore accounts, trusts, real estate deals, and more. For the spouse being cheated out of funds, this is sometimes very difficult or impossible to prove.
Sometimes, these cases become so deeply involved that the cheated spouse will feel at wits end and hire a private investigator. The investigator will typically have an extremely good track record of understanding financial statements and data. The investigator will figure out the spouse’s income and wages, expenses and bills, property owned in assets, and what it owed to other people in debts. This will help the judge come to a conclusion about the case and what is to be expected of them. If a judge discovers that falsification of financial disclosures did indeed occur, they will usually favor the victim in the case and make calculations based on how much the spouse owes to them.
The Real Statistics
According to the National Endowment for Financial Education (NEFE), about 31% of adults who combined assets with their spouse say that they have been deceptive about their money. 58% of these people said that they hid cash from their partner or spouse, and 34% admitted that they lied about finances, debt, and their money earned. However, they may not know that lying about finances during divorce proceedings is completely illegal, especially when a wife or husband signs the Financial Affidavit, which is required in every divorce.
It is important to understand your rights in these cases. If you believe that your spouse is lying about their finances, you have rights and ways to move forward to find out. Call us today for more information.
