Going through a divorce can be an overwhelming, humiliating, and painful experience, especially if your spouse tries to make it as difficult for you as they possibly can. If you don’t take the right steps to keep yourself protected, your spouse may be able to exploit you and drive you into financial ruin. As you move through the process, you may find out that your spouse is hiding assets from you. A Des Moines divorce lawyer can be a tremendous help through this.
In Iowa, hiding assets during a divorce is considered a crime under state law. Not only is it illegal for either spouse to withhold assets from each other or the court during the divorce process, but the spouse caught doing it will likely be vilified by the court. It can seriously hurt the spouse’s credibility and likability during the divorce process. The court expects both partners to be wholly honest and trustworthy during the process. Hiding assets is considered disrespectful.
Asset Division in Iowa
In an Iowa divorce, assets are distributed in accordance with the equitable distribution model, which is used in many states throughout the Midwest. Through this model, the court determines exactly how much each spouse is owed in a fair split of the marital assets. This is only done with community property, not with separate property. It’s important to note that fair and equal are not synonymous in this model. The court uses many different factors to determine how the split will fare.
Once asset division has officially begun in the divorce, the court expects each partner to provide a detailed list of their respective finances, including their bank accounts and personal assets. Any attempt to withhold assets from either the other spouse or the court will result in admonishment and possibly even criminal charges if the court deems it necessary. Hiding assets can be considered a form of financial abuse, which may be seen as a form of domestic violence.
According to Iowa’s Health and Human Services Department, the marriage rate in Polk County, where Des Moines is located, was about 5.9 per 1,000 residents in 2023, which is fairly high. The divorce rate, however, is quite low in Iowa, according to the Centers for Disease Control (CDC), at 2.0 per 1,000 residents in 2022.
There are many divorce support groups in Iowa that can help you move forward, such as Second Saturday Divorce Workshops. They can guide you through your emotional recovery.
Signs of Hidden Assets
It’s important to note that not every divorce will result in your spouse trying to hide assets. If you don’t trust your partner and your divorce is related to money problems, you may want to prepare yourself for the possibility that they are hiding assets from you. Many different behaviors can be a sign that your spouse is doing this, and it’s important to recognize these signs. Here are some warning signs that could signify hidden assets:
- Financial control: If your spouse insists on being the only one who controls the finances in your relationship, that may be a sign that they don’t want you to know anything about what they are doing with those finances. If you don’t have any access to your joint accounts, you need to find a way to get access and see how much money is in those accounts and what’s being hidden from you.
- Financial conversations: If your spouse absolutely refuses to discuss money with you in any way, that can be a glaring red flag that they are hiding something from you. There’s nothing inappropriate or uncomfortable about discussing money unless somebody makes it seem that way. They may even be trying to gaslight you into thinking you’re losing your mind over finances.
FAQs
Q: How Do I Investigate My Spouse’s Finances?
A: There are several ways you can look into your spouse’s finances. If your name is on the accounts, it may be way easier to access them. Otherwise, you may want to hire a private investigator or a forensic accountant who can dig through your spouse’s financial records and report back to you. You may want to hire a divorce lawyer first, who can connect you with investigators and forensic accountants.
Q: What Is One Big Sign That My Spouse Is Hiding Assets?
A: Since everyone’s marriage is different, there could be numerous signs that your spouse is hiding assets. Everyone’s experience with secretive behavior is different; however, most cases will involve secrecy. When your partner has something to hide, they may be acting shifty, defensive, or prone to anger. If they are particularly secretive about your finances, that is something you should address quickly.
Q: Is Hiding Assets in a Divorce Illegal in Iowa?
A: Yes, hiding assets in a divorce is illegal in Iowa. When you are getting divorced, the court expects both partners to be completely honest about every element of the divorce. This includes detailing your respective finances in a comprehensive list. If your spouse fails to disclose certain assets in an attempt to avoid them being split in the divorce, that could result in criminal charges. The court may also see them as the bad guy, which can help your settlement.
Q: Should I Hire a Divorce Lawyer?
A: Yes, you should hire a divorce lawyer. Dealing with a divorce on your own can be complicated enough without finding out your spouse is hiding assets from you. You may not know what to do with that information or how to report it properly. Having the right lawyer by your side throughout everything can be a significant help. Your lawyer can make sure the court knows about this, and they can help you gather the evidence to prove it.
Reach Out to a Divorce Lawyer Today
The right divorce lawyer can make all the difference in your case, especially if your spouse is trying to withhold assets from equitable distribution. At Stange Law Firm, we can help you make a plan for your divorce that involves holding your spouse accountable for such behavior. Contact us to speak with a team member about how we can help.
