No matter the cause of your divorce, you may hope that you and your spouse can divide your property in a quick and amicable manner. Yet, doing so becomes difficult when you suspect that they may be hiding assets. Tracking these assets down can be tough, especially if you don’t know where to look. But by understanding where hidden assets are often located, you may be able to uncover them.
Finding hidden assets
Finding hidden assets on your own can seem impossible. Yet, doing so could involve little more than looking in obvious places, since your spouse may be hiding them in plain sight. If they own a business, they may write paychecks to employees who don’t exist, with plans to void them after your divorce. Or, they may delay finalizing new contracts or major deals until then to undervalue their business during proceedings. Pay attention to your spouse’s spending, too. If they bought an expensive car, boat or collectibles before your divorce, they may plan on selling these to convert them into cash afterward.
With the help of your attorney, you can motion for your spouse to release financial documents, like tax returns. If your spouse controlled your household’s finances, you may not have looked these over carefully in the past. Yet, tax returns often point to properties and investments that generate income, as well as offshore accounts that you might not have known about. You may also want to enlist the service of a forensic accountant, who can perform more in-depth research into your spouse’s financial affairs.
If your spouse has hidden assets, tracking them down can complicate your divorce proceedings. With help and diligence, though, you have ways of doing so that will help you receive a fair settlement.