Have you noticed that some of your money seems to be missing from your bank account? Does it appear that your spouse is spending a lot but you don’t know where they’ve gotten the funds? If you’re divorcing, it’s important to think about the potential for your spouse to hide assets from you.
If your spouse is hiding assets from you and the court, then they’re breaking the law. Any assets owned at the time of the divorce need to be accounted for.
Finding hidden or missing assets may help you keep more of your share of your marital assets. How can you find those assets? It’s time to do some digging.
Speak with a forensic accountant
For most people, this means talking to a forensic accountant. A forensic accountant is trained to “follow the money” and find out where certain money was spent during or following your relationship. They may see transfers listed on the page and be able to link them to a warehouse or storage unit where assets were hidden or be able to identify who a transaction involved.
Talk to a private detective
Another person that you might want to speak with is a private detective. Are you concerned that your spouse is spending time with someone else and having and expensive affair? Hiring someone to find out is an option. Private detectives may be able to help uncover hidden assets and even identify where some of the liquid assets were spent.
It is important that the division of assets in divorce is fair. This is why hiding assets is a serious offense in the eyes of the court. If your spouse hides assets that are later found, then they could end up losing them in the property division award, or you could have a better negotiating position.
It’s necessary to know your legal rights and to take steps to resolve your property division issues as soon as you can. If you believe that your spouse is hiding assets from you, remember that you can take the time to investigate. Doing so may help you get more from your divorce.