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How can I uncover hidden assets during a divorce?

On Behalf of | Jul 7, 2019 | Family Law |

When a marriage breaks down, dishonesty is usually a factor. This dishonesty can even extend to the divorce process itself, as many spouses attempt to hide assets to prevent them from being divided. According to Forbes, there are steps you can take to uncover these assets and have them included during the dividing process. 

As the divorce is underway, get started on an inventory of your shared assets as soon as possible. Start your search in the comfort of your own home, as many assets are hidden in plain sight by spouses. If you have a home safe where important documents are kept, begin by looking there. Catalog all the assets and properties you find and make sure you have copies of any important papers. Of course, many spouses are a bit more creative when it comes to hiding assets. In this case, you’ll also need to be more creative when it comes to your search. 

Surprisingly, mortgage documents are often rife with essential information on assets. That’s because lenders request things like income verification, assets currently owned, and other information when a person closes on a home. Even if your ex has hidden other indicators of asset ownership, these documents will contain the most relevant information. 

You can also look at tax forms for more clues. If your spouse owns a business, he or she may have purchased assets through the business itself, which can be determined by looking at the Profit or Loss from Business section. You can also review his or her Itemized Deductions, where you might find something like property taxes that indicate hidden real estate. Supplemental Income and Losses is another section to peruse, as you spouse may be earning incoming you were unaware of. 

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