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How Your Spouse Could Hide Money from You through a Job

How Your Spouse Could Hide Money from You through a Job

Posted By Meyers Law Group || 12-Aug-2013

While there is actually such a thing as an amicable divorce, too much of what we see or may have experienced is a bitter, prolonged battle when a couple splits. A lot of this contention stems from financial issues, and frankly, not everyone may be playing fair. Sometimes, a spouse will keep back full information about finances, so as to avoid making support payments. One way this cover-up can happen is through one's line of work. Perhaps a spouse has used deception about finances before. If so, you need to be aware of further ways he or she could be concealing money.

Your spouse may defer some of his or her wages for as long as the divorce takes. See if you can discover any documents that show your spouse asking for this deferment. Also pay attention to see if his or her normal salary has taken a sharp drop since divorce. Depending on the job, your spouse might also have "perks", such as a company car, an expense account, and more. If your spouse gets bonuses regularly, pay attention to see if this norm is disrupted. It is possible that your spouse could defer these payments as well. Some bonuses can be split up, with some of it going into an account to collect interest.

Some employees get their business trips covered, and they can even be given an allotment to take a spouse with them and spend a couple of extra days past the time for business proceedings. If you did not go, then you could find out if someone else did. Then there might also be further wages that come from vacation time. If your spouse only spends half of his or her vacation days, for example, he or she may be eligible for extra payments. The same may go for sick and personal days.

You should also discover if your spouse has stock options. Employees often get the opportunity to purchase stock for a lower price. If your spouse has done so, then there may be a lot of money tied up in these stock options. Your spouse may even have a country or health club covered by his or her job.

A spouse could always make a "loan", so as to appear indebted and unable to support a spouse or child. This could mean taking a loan from a friend, relative, employer, or co-worker that does not actually have to be paid off. This fake loan is only meant as a way to increase the debt column in one's divorce papers. An employer might pay your spouse from the company's profits based on a percentage. You should find out if your spouse is a partner or owner in the company, and would thus have further salary and financial rewards.

These are just several of the ways a job can be used to cover up assets in a divorce. Every situation is unique. To address your specific set of concerns, it would be invaluable to consult a Long Island divorce attorney. With experienced legal help on your side, you may be able to ensure that a spouse gives full financial disclosure. Else, you may be able to take legal action to discover hidden assets.

If you work with the Meyers Law Group, P.C., you could work with committed professionals who are fully-versed in all divorce law, including its recent changes. We are dedicated to helping our clients achieve results that are both fair and optimal in a divorce. To find out what we could do for you, please do not hesitate to contact our Long Island divorce firm at your earliest convenience.