Untangling a long-term marriage can undoubtedly be a complicated process. Typically, the longer spouses in Michigan have been married, the more their finances, and lives in general, are entangled. When divorce happens, it is not uncommon for a spouse to attempt to hide assets to try and prevent losing them. Hiding assets during a divorce is not only unethical, but it is also illegal. Here are some other reasons why a soon-to-be ex-spouse may attempt to hide assets.
Reducing child support or alimony
In some divorces, one spouse may be ordered to pay child support or alimony. The individual’s income is a main factor in determining how much he or she will be required to pay in child support or alimony. This can be enough incentive for the spouse to attempt to hide assets or income to reduce the amounts they may have to pay.
Out of spite
Some spouses may hide assets out of spite or to be vindictive. They often think that by hiding money or assets, they can deprive the other party of gaining the benefits that come with the asset’s full value. An emotionally charged event like a divorce can cause a person to act vindictively or irrational to “get back” at their spouse.
Where to go for help
Besides the potential of a spiteful spouse attempting to hide things, there are many other reasons why divorce is a complicated process to navigate. Fortunately, those in Michigan who are heading for divorce can seek the help of an experienced legal professional. A knowledgeable family law attorney can provide guidance and ensure the protection of personal rights.