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Looking for Hidden Assets

During a divorce, it is not entirely unusual to find one spouse, typically the more financially secure person in the marriage, hiding assets. This is usually done to prevent the other spouse from gaining the assets in a divorce.

You may have reason to believe that your spouse is hiding assets, if you find that he/she is becoming increasingly secretive about bank statements and other financial documents during a divorce. Your spouse may ask for an accounting of all of your expenses.

You might find that he/she frequently complains about business losses, but you do not see any corresponding decrease in his/her expenses. Your spouse may also begin to complain about a decrease in the value of your marital assets.

He/she may hide assets by making big purchases like, antiques, paintings, art, sport equipment, and coin collections. These assets are often undervalued. Your spouse‚Äôs office may also be a great place to hide assets like these. That antique carpet, for instance, could be worth thousands of dollars, and you may not even know it. Look for unreported income on tax returns or a custodial account that is set up in your child’s name, using his or her Social Security number.

If your spouse owns his/her own business, he/she may find it even easier to conceal assets. For instance, checks may be made for salaries to non-existent employees, and these checks may simply be nullified after the divorce. He/she may pay money from the business to relatives or family members, and that money will immediately be paid back to your spouse after the divorce.

There are several ways that your spouse can try to conceal assets, and it’s important to get a professional to help you locate all of these hidden assets. A lawyer will take legal action to make sure that your spouse discloses all assets to you, and will undertake a complete investigation to locate these hidden assets.