One of the most frustrating and legally complex issues during a divorce is the suspicion, or discovery, that a spouse is hiding money. Whether it’s through secret bank accounts, undisclosed investments, or suspicious financial behavior, concealing assets during divorce is more common than many realize. If you believe your spouse is hiding money in your Greenville divorce case, it’s critical to act quickly and strategically to protect your rights and your share of the marital assets.
South Carolina law requires full and fair disclosure of all financial resources during the divorce process. Hiding money or failing to disclose financial information can affect the final property division and may carry legal consequences. With the help of an experienced divorce attorney and the right financial professionals, you can uncover hidden assets and ensure a fair settlement.
Common Signs Your Spouse May Be Hiding Assets
Spouses attempting to conceal assets during divorce often exhibit secretive behavior around financial matters. This may include:
- Unexplained transfers of money between bank accounts
- Cash withdrawals from joint accounts with no clear purpose
- Hiding cash or transferring funds to safety deposit boxes or family members
- Changing access to financial documents or online banking passwords
- Buying expensive items and underreporting their value
- Failing to produce financial records during the discovery process
- Sudden business expenses or investments with no justification
Such actions are red flags and may indicate attempts to conceal marital property or manipulate the financial outcome of the divorce settlement.
How Hidden Assets Affect Property Division in South Carolina
In South Carolina, the family court follows the principle of equitable distribution—not equal division. That means marital assets are divided fairly based on several factors. However, if one spouse is hiding money, undervaluing business interests, or omitting investment accounts, it becomes nearly impossible to achieve a fair division of property.
Hidden funds or undisclosed assets can dramatically skew the marital estate. These assets might include retirement accounts, digital wallets, business accounts, or real estate held in another person’s name. If the court is unaware of their existence, the division of assets will be inherently unfair.
Even though South Carolina is not a community property state, courts still require full financial transparency from both parties. Concealing assets violates this duty and undermines the integrity of the entire divorce proceedings.
Legal Tools to Uncover Hidden Assets
When a spouse refuses to be honest about their financial information, your attorney can use legal tools such as discovery requests, subpoenas, and court-ordered depositions to require your spouse to produce financial records. These may include bank statements, tax returns, financial statements, or documentation of business interests.
A forensic accountant can be invaluable in these cases. These financial experts specialize in tracing funds, reviewing complex business documents, and identifying inconsistencies in financial disclosures. If you suspect asset hiding, you may need to hire a forensic accountant to conduct a thorough investigation and help you uncover hidden assets.
Forensic accountants can also analyze spending habits, uncover digital wallets, trace unknown accounts, and identify assets that were intentionally left out of the marital estate.
The Role of a Forensic Accountant in Divorce
When you’re dealing with a spouse who may be hiding cash or underreporting income, financial professionals such as forensic accountants are essential. Their job is to dig through the financial documents, tax returns, and business records to uncover assets your spouse hoped you wouldn’t find.
A forensic accountant can:
- Investigate suspicious transactions or unexplained transfers
- Analyze business accounts and hidden income streams
- Discover hidden accounts or assets transferred to friends or family members
- Compare lifestyle and spending habits to reported income
- Work with your attorney to support discovery requests
This process can reveal whether your spouse owns valuable assets not disclosed in court, such as investment accounts, safety deposit boxes, or properties acquired without the other spouse’s knowledge.
Why Full Financial Disclosure Matters
During a divorce, both spouses are required to provide complete financial information. This includes tax returns, bank statements, details on marital funds, and documentation of any assets acquired during the marriage. If your spouse fails to disclose their full financial picture, the court may penalize them by awarding a greater share of the known assets to you.
Concealing assets or lying under oath can also lead to criminal penalties in extreme cases. Courts take these violations seriously, especially when they involve large sums or show intentional deception.
Protecting Your Rights During the Divorce Process
The best way to protect yourself when you suspect financial deception is to partner with an experienced divorce attorney. A knowledgeable legal team can help you issue discovery requests, analyze financial records, hire a forensic accountant, and advocate for a fair division of the marital estate.
If your spouse is hiding money, it’s likely they have already taken steps to conceal financial documents, reroute funds, or misrepresent their business income. Acting quickly is crucial. With the right legal support, you can uncover hidden assets and hold your spouse accountable.
Learn more about what to do if your spouse is hiding money during your divorce. Call Sarah Henry Law at (864) 478-8324 to schedule your free, no-obligation consultation. You can also reach us anytime through our contact page. Let us help you protect what’s rightfully yours and secure a fair settlement.
FAQs: Hidden Assets and Divorce in Greenville
What qualifies as hidden assets in a divorce?
Hidden assets include any financial resources or property a spouse conceals during divorce proceedings. This can range from secret bank accounts and hidden cash to undisclosed business interests.
How do I prove my spouse is hiding money?
You may need to work with a forensic accountant and your attorney to review bank accounts, financial documents, and tax returns for inconsistencies or suspicious activity.
Can hiding assets affect the outcome of a divorce?
Yes. If the court finds that a spouse hid assets, they may award a larger share of the marital assets to the other spouse or impose legal penalties.
What role does a forensic accountant play in divorce cases?
A forensic accountant uncovers hidden accounts, reviews business records, and traces suspicious transactions. Their analysis helps build a strong case in court.
Is it illegal to hide money during a divorce?
Concealing assets during a divorce may lead to sanctions, fines, or even criminal penalties. Courts in South Carolina require full financial transparency from both parties.
