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Looking for hidden assets during your divorce

Are you worried that your spouse is going to hide assets during your divorce? People often do not want to split things with their spouses, so they'll try to stash certain assets and get through the divorce without getting caught -- even when full disclosure of assets is legally required.

If you're concerned that this may happen, the best place to begin looking is at home. Your spouse could have an envelope full of cash in a desk drawer, after making small ATM withdrawals for the last year, for instance.

You can also look for evidence. For example, if you find a safe deposit box key and you didn't know your spouse had one, could he or she be hiding assets outside of the house? If you find reports from an investment portfolio you never knew your spouse opened, could he or she "forget" to list those investments during divorce?

It's also wise to check your bank account for any activity that stands out. For instance, if your spouse took out $30,000 and gave it to another family member, it may just be so that the family member can hold it until the divorce is over and then give it back. They'll likely have some story about an old debt that they forget about until right now or a business loan for an idea they've never mentioned before, but they're really just trying to keep you from your percentage of that money.

If you think your spouse is hiding assets, it's probably a fairly contentious divorce, and it's imperative that you know all of your legal rights.

Source: Truth Finder, "How To Find Hidden Assets In A Divorce," Ed Smith, accessed April 23, 2018

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