It’s Getting Harder to Hide Money from Your Spouse

Veronica Dagher of the Wall Street Journal writes about the different ways that electronic discovery is assisting spouses and their divorce attorneys with finding hidden marital assets.

To get an idea of just how widespread financial mischief is, consider a couple of surveys. According to the National Endowment for Financial Education, 31% of U.S. adults who combined assets with a spouse or partner say they have been deceptive about money, and 58% of these adults say they hid cash from their partner or spouse.

The numbers also confirm that technology is playing a growing role in uncovering that double-dealing. In 2010, 81% of the members in the American Academy of Matrimonial Lawyers said they had seen an increase over the past five years in the use of evidence from social-networking sites. This year, 92% said that over the past three years, they have seen an increase in the number of cases using evidence taken from smartphones.

Part of the reason electronic discovery is booming is that more people are using technology to hide assets in the first place. They set up covert business deals using text messages or social networks, for instance, or figure out ways to create cash hoards online.

Read the entire story.

If you are considering divorce, the Lawyer Referral Service of the NH Bar Association can help by connecting you with a competent family law attorney who will work to protect your rights, while helping you navigate this often confusing experience.  Call LRS today at 603-229-0002 or request an online referral.

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