If your relationship is on the rocks and your kids are starting to be affected, being open to the chance of having divorce is not a mistake. It is a practical way of thinking. Of course, for every mother, they wouldn’t want their kids to live a life they don’t even understand; living under one roof with their parents screaming at each other’s face.
Furthermore, you should also consider protecting your finances, especially if you’ve been working hard. But is this possible? How can you hide money when everything should be exposed in court? Reality-based, there are many ways for you to hide money and protect it for your children’s future.
The game begins on how you can hide it until the end of the court hearing. And to guide you on that, here are some facts you should learn upon hiding money during a divorce and how you can do it effectively.
1. Open your own account
The moment you feel like your divorce journey is about to start, you should immediately open your own bank account. If you’re sharing an account with your husband, withdraw a right amount – half of it would be preferable – and transfer it to your sole account. You should also ensure that your check account is stuffed with enough finances.
2. Safeguard your assets
Assets such as home, car and other pertinent materials are also considered “money” in one way or another. Before your partner can damage your hard-earned assets, be sure you have already transferred it in a place that he doesn’t know. See to it that you’re the sole owner of these things. Of course, claiming something that your husband does not own would surely cause a conflict in the divorce case.
3. Devalue the property
If you own a family business and you know your partner will put up a fight for that, it would be advisable to devalue the property. This way, the managing spouse will benefit from the lower value. You will also benefit from the finances and the increased business value once the divorce is over.
Things to consider when hiding your assets:
1. Your reason
Why are you hiding money from your spouse? Is it because you want to give it to your new partner, or is it for the future of your kids? Hiding assets can be risky and doing it for a lame reason is just not worth it. Be sure that everything you’ll do in a divorce case, you do it for yourself and for your kids.
2. The risk, difficulty and challenge
Dealing with a divorce case includes attending court proceedings. This means everything about you and your partner will be discussed. Hiding money can be risky and challenging. You should also consult a trusted lawyer to ensure that you’re on the right path throughout the proceedings.
Many credited lawyers shared their experiences and they all came to one similar end point – that mothers are only doing it for their children. Although there is no legal way to hide money and assets especially in cases like this, we cannot blame parents, especially mothers.