Tips For Finding Hidden Marital Assets During Divorce

If you are divorcing and believe that your spouse is hiding assets from you and the court, you have tools available to you to help find those assets. Without a clear picture of your spouse's finances, you cannot possibly reach a settlement regarding the fair division of your assets and debts. Here is some information you need to know.

Are You The Out-Spouse?

If you are the out-spouse, finding all of your spouse's assets is possible, but it might be trickier. You are considered to be the out-spouse if your spouse took care of all of your financial affairs during the marriage. In this instance, you do not have any knowledge or access to the marital assets or debts.

When you and your spouse are preparing for divorce, you can simply ask your spouse to provide you with financial records for all the marital debts and assets. Ask for the login information for all online accounts, too. However, if your spouse is unwilling to provide you with this information or you feel that the information you did receive was incomplete, you will have to use other methods to get a complete picture of your marital finances.

How Can You Find Hidden Assets?

Your divorce attorney will rely on the discovery process to help him or her find your spouse's hidden finances. Once the divorce papers are filed, both sides are legally required to share information, such as financial records.

During discovery, your attorney can conduct a deposition. Your spouse will be legally obligated to answer questions that your attorney has about the marital finances. Your attorney can also request that your spouse complete an interrogatory. It is a written form with questions concerning your finances and other issues in the marriage. Finally, your attorney may submit a subpoena for the financial records. Records he or she can request include tax returns, loan applications, and bank statements.

Who Else Can Help Find Assets?

Your attorney can call on a number of experts to help track down hidden money. For instance, a forensic accountant can closely examine the financial records submitted and trace them to determine if there is money stashed away in a secret account.

The best way to deal with possibly hidden assets is to work with an attorney like Karen Amacker Attorney. Your attorney has undoubtedly encountered this particular situation in the past and knows how to handle it. While waiting for a thorough search of your spouse's financial records, do not sign any financial agreements without first consulting with your attorney.