Divorce creates a wealth of emotional upheavals, particularly when betrayal is involved. When your spouse has betrayed you, such as having an affair or living a double life, chances are there may be some financial fraud involved as well. If you have a suspicion that your spouse has not been fully honest about your finances, you should let your lawyer know right away. Here are some things to consider if you are in this situation:
Why Should You Worry About Financial Fraud?
Financial fraud is when your spouse has misrepresented your finances to you while you were married. If you are not aware of it, you could be left with fewer assets than your spouse and not even realize it. When you have been manipulated or otherwise betrayed, you need to be aware of possible financial fraud in your marriage.
What Are Some Signs of Financial Fraud?
Several warning signs may indicate your spouse has not been fully honest with you about your finances. If your spouse is not willing to let you look at your bank accounts, if they're acting aloof when it comes to conversations about money and spending, or if there has been a change in behavior surrounding finances, you should inform your lawyer to get the investigative process started.
How Can You Discover Financial Fraud?
During your divorce trial, your lawyer will work with a forensic accountant who can go through your finances and trace money almost down to the penny. They will have the tools to determine your spouse's actual income, whether your spouse has different accounts, whether they are paying taxes, whether your spouse owns additional property, and the like.
How Does Financial Fraud Impact Your Divorce?
When it comes to divorce and financial fraud, you have to consider dissipation. This occurs when a spouse knowingly spends money in a way that is not beneficial to the other spouse. For example, if a spouse is cheating and they spend money on the affair, then this is considered a form of dissipation. Gambling is another example. The sudden unexplained selling of property or other assets can also be considered dissipation. Excessive spending on personal hobbies can also be a form of dissipation. In addition to dissipation, you also need to look out for other types of fraud, including cases of forgery, insurance fraud, loan fraud, and tax fraud.
For more assistance, contact local divorce lawyers.
