A Strong Advocate For The Vietnamese Community

Tips for finding hidden assets during a divorce

On Behalf of | Sep 18, 2023 | Family Law |

If a divorce appears imminent, start documenting assets and keeping track of your California expenditures. This information will help determine a fair settlement. If you think your spouse is hiding valuable information, here are some ways to uncover the complete financial picture.

Document stash

Many people have a designated place in the home for important papers they want to keep. It may be a box in a closet or a dresser drawer. Go through the paperwork, looking for unfamiliar mortgage statements, closing statements, sales slips or anything else that indicates previously undisclosed assets. If you find a mortgage application in the pile of papers, scan the form’s declared assets and note any unfamiliar items. Take photos of all the relevant information.

Bank records

Carefully read your shared bank account records for unusual withdrawals or purchases. Your spouse may be siphoning funds to a private account or using the money to purchase real estate or other investment vehicles. Check the mail for letters from financial firms. Steam them open if you need to, and take photos of statements.

Tax returns

Carefully review the last five years of personal and business tax returns. Search for listings of unknown investment properties, brokerage accounts, trusts, partnerships or supplemental income.

Private investigator

During the discovery phase of the divorce, it’s a good idea to hire professional help. Experienced investigators know where to look for hidden assets or recent sales of valuables.

When a divorce threatens someone’s future financial stability, trying to hide money from a spouse is a common impulse. In addition to the above tips, check mattresses, attics and basements for hidden valuables.

RSS Feed