Fraud in Your Divorce
The divorce process is often challenging enough when both spouses are fully honest and transparent with one another. But when fraud is introduced into the mix, it can be difficult to see a light at the end of the tunnel.
Knowing how to identify fraud in your Bucks County divorce and protect yourself can help you avoid falling prey to dishonest tactics from your spouse. A divorce attorney can also provide legal guidance and support.
What Is Divorce Fraud?
Divorce fraud arises when one or both parties attempt to conceal assets or important information that they are required to disclose. If their deception is not discovered, the division of assets and marital settlement agreement would be based on this untrue information, meaning that one spouse would not receive a fair settlement.
Divorce fraud often surrounds finances. If you suspect your spouse may be committing financial fraud in your divorce, speak with your attorney about your options.
Examples of Fraud in Your Divorce
Divorce fraud can take several forms. Your spouse might seek to conceal assets from you or complete financial activities in your name that negatively impact your credit or financial opportunities. Examples of such behaviors may include:
- Secretly opening credit cards, home equity loans, mortgages, or other lines of credit in your name
- Making fraudulent transfers to friends or family to conceal assets
- Underreporting business income
- Excessively spending or gambling shared assets
- Creating fake debts
- Failing to disclose new income during the divorce process
- Destroying financial records
You can look for a few signs of financial infidelity if you suspect fraud but haven’t seen any of these behaviors outright. Warning signs might include:
- Your spouse being generally controlling of finances
- Your spouse making numerous financial transactions
- Your spouse asking you to sign financial documents without giving you the chance to review them thoroughly
- Your spouse being secretive about finances
Protecting Your Assets Against Fraud Attempts in Divorce
Whether you suspect your spouse has undisclosed income or are concerned that they may attempt fraudulent activities in your divorce, you can take a few steps to protect your finances and intervene before any fraud attempts worsen.
- Request a copy of your credit report and review it closely for signs of suspicious activity
- Hire a forensic accountant to conduct a marital asset investigation and uncover hidden assets
- Contact each lender to review transactions
- Freeze your credit to prevent any new accounts from being opened in your name
- Open your own bank account that your spouse does not have access to, and begin depositing paychecks in that account
- File a police report for criminally fraudulent activity
- Change the login information for any accounts that are solely in your name so your spouse cannot access them
Speak With Karen Ann Ulmer, P.C., for Legal Guidance
Uncovering hidden assets in a divorce can be challenging. With an experienced divorce attorney on your side, you can recognize signs of divorce fraud and prevent further fraudulent activities from impacting your divorce process.
Request a confidential consultation with Karen Ann Ulmer, P.C., today at (866) 349-4907 for legal guidance.
