When spouses go through the process of ending their marriage, the situation can often get a little messy and, in some cases, a spouse may attempt to hide assets to prevent the other from receiving a share. Without an experienced attorney on your side, discovering these hidden assets will be an impossible feat, so be sure to hire a knowledgeable legal professional as soon as possible.
Search for Hidden Assets
There are many ways in which a spouse may try to hide assets. Sometimes, to hide assets, a spouse may simply undervalue certain assets.
Here are some ways in which assets may be hidden:
- Unreported income on financial statements and tax returns
- Overlooked or undervalued items, such as antiques or artwork
- Cash kept in a form that may be difficult to find, such as travelers’ checks
- Custodial accounts set up in a child’s name
- Retirement accounts you were never aware of
- Phony debt repayments to friends
- Salaries paid to employees that do not exist
- Skimmed cash from a business
- Delayed business contracts to lower the value of a business until after the divorce
Finding the evidence to prove that your spouse is hiding assets can be difficult, which is why hiring a knowledgeable legal professional is essential in such cases. In addition to an attorney, you may also need a private investigator or forensic accountant. Forensic accountants will know what to look for and be able to gather the necessary evidence that can be used in court.
If you think your spouse is hiding assets, now is the time to start gathering copies of important financial documents, such as bank account statements, tax returns, and pay stubs. Store them in a place where your spouse cannot find them, preferably outside the marital home if you still live together.
Schedule a Case Review with an Experienced Divorce Attorney Today!
Your assets and property are important to you, so if you suspect your spouse is hiding them, do not hesitate to seek legal counsel. At Ford & Friedman, our skilled family law team will provide the guidance and advice you need to navigate your case and find any assets your spouse may have attempted to hide from you. With our attorneys on your side, you can feel confident your interests will be protected.
Reach out to our law firm today at (702) 904-9898 to set up a case evaluation with one of our attorneys to learn more about what we can do to help you.