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Definition Secretion of Assets - the hiding of assets.
Application in Divorce As it applies to divorce, the secretion of assets is an attempt by one spouse to hide assets that might be subject to distribution as part of the marital property settlement.

Very often, when one party is contemplating a divorce, he (or she) hides assets that might otherwise be eligible for distribution as part of the property settlement. Very often women are at a disadvantage at the outset of a divorce because the husband very often manages his money and her money and their money, and the wife has a limited understanding of their assets and liabilities.

Sometimes these machinations become quite complicated and require a forensic accountant who can analyze financial records for evidence of dissipation and secretion. For example, a forensic accountant examines UCC filings for evidence of collusion with a business partner in hiding or misrepresenting marital assets.

A certified fraud examiner can be called to testify as an expert witness.

Assets can sometimes be hidden in a variety of ways. For example, assets can be hidden as false debts to friends or in a closely held business. Unusual expenses are another red flag.

Judges look very unfavorably on both dissipation and hiding of assets.

See also UCC Filings.

Questions & Answers
What if my spouse is attempting to hide property?
Often one spouse might attempt to undervalue or disguise a martial asset intentionally with the specific thought in mind of life after divorce. While suspicion and proof of these kinds of activities are two very different entities, there are ways in which to protect yourself. The most prominent counter-measures would be not only to start compiling detailed financial records complete with accurate asset assessments or valuations from the moment the decision to separate is made, but also to hire a specialized professional known as a forensic accountant. A forensic accountant is one who is an expert at tracing properties, evaluating financial reports, and assessing values for businesses and investments. Should things get really ugly, he or she is also one who makes a very good witness in a court of law.
What if I suspect that my husband is hiding something?
An agreement is also not valid should there be “fraud in the inducement," that is, certain lies that influenced you to sign the agreement. If this “hiding something" constitutes fraud, your agreement is not valid. For example; your spouse told you that he or she did not have any property interest in the speedboat at his best friend’s lake house. It turns out, after you signed the separation agreement that he owns half the speedboat, and it is worth $20,000. Deception is not a wise move when it comes to separation and/or divorce. The judge will most likely pick up on it and once it is evident, your credibility will be worth nothing in the eyes of the court.

Helpful Tips & Facts
Additional Resources
Unreported Income and Hidden Assets
Unreported income and hidden assets are often alleged in divorce proceedings, with the spouse who is not running the business claiming that unreported income should increase both the spousal support award and the valuation of the family business.
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