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How to locate hidden assets in divorce

by | Sep 27, 2018 | Firm News

Divorces would go so much more smoothly if both parties would be honest and upfront. However, it is incredibly common for spouses to hide assets in an attempt to retain more once the court proceedings have finished.

If you suspect your spouse has hidden anything, from cash to stock options, it is vital to try to find it. You deserve the peace of mind that your ex has not tried to keep anything away from you.

Check physical hiding spots

Some spouses will try to hide assets by getting a large quantity of money in cash and hiding it. That is why you should always peruse your own home to see if your spouse placed cash in a safe or deposit box. You could also come across secret bank statements or stock certificates.

Look at your joint bank accounts

Another common tactic involves sending money to a friend or family member until the divorce is complete. You should keep an eye on your bank accounts to see if anything unexplained transfers occurred. You should bring anything suspicious to the attention of your spouse and take any excuses with a grain of salt.

Remain cautious of business expenses

People who run their own businesses have even more places to hide assets. They may delay charging clients until finishing the divorce so that all of that extra income is not marital property. A legal professional will be able to take a close look at all these expenses to find anything out of the ordinary.

Look at income tax returns

The best resource you can get your hands on is a spouse’s income tax return. This document will show beyond a shadow of a doubt how much a spouse made in a given year.