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How do you know if your spouse has hidden assets before divorce?

On Behalf of | Nov 17, 2021 | Property & Asset Division, Property Division

One of the biggest complications in a divorce is the division of marital property. With the exception of couples who execute prenuptial agreements, most couples will have to either negotiate property division settlement or prepare for litigation.

What if you believe that your spouse won’t disclose all of their assets? Finding hidden assets is a crucial step. After all, you cannot receive your fair share of the marital estate if your spouse hides property from you.

How do you track down hidden assets when you want to file for divorce?

Financial records play a key role

Many people who locate hidden assets in a divorce find them because of financial records. Comparing your spouse’s income to the deposits they made in your bank account might lead to the realization that they have sent a few hundred dollars every week off into a hidden bank account.

Other people might discover a key for a safety deposit box or a large storage unit. Your spouse could have hidden physical assets, deed paperwork or even a large amount of cash so that you won’t find it.

Reviewing the asset disclosure made by your spouse when you file for divorce can also help you find hidden assets. Spouses may intentionally avoid listing certain property. Other times, they might intentionally undervalue what they report the assets to be worth.

If you notice discrepancies between your personal financial records and household documents or signs of missing property, then you might want to bring a forensic accountant onto your divorce team. Finding hidden assets helps you push for a fair outcome in a complex divorce.