Couples in Tennessee who have decided to get a divorce will be going through a lot of difficult hurdles. One of the potentially biggest one is dividing your assets. This is where you might run into issues in which someone attempts to hide assets.
A spouse may try to hide assets for many different reasons. In some cases, it is out of anger. They may believe their spouse does not deserve any share of their property, money, and so on. In order to ensure they get the least amount possible, they may lie about their assets so it isn’t all taken into account during the division.
It may also be because they feel like their spouse does not need the extra support, but they do. They may be afraid of losing valuable assets that they don’t think they can earn back easily. This is usually more common in divorces in which one spouse has a higher-paying job, while the other does not. Even alimony or spousal support payments aren’t always enough to assuage these concerns.
Finally, they may simply be motivated by spite. Some people have the idea that if they cannot have their assets to keep for themselves, no one else can, either. For this reason, some people may choose to blow their money rather than hiding it. For example, they may buy expensive items. However, this could also be a tactic to gain the money back later, as these items can be sold or returned.
Take a look at our page on family law and divorce if you are curious to read more about this and other potential hurdles divorcing couples may run into.