How to determine if spouse is hiding assets in divorce

On Behalf of | Aug 17, 2021 | High Asset Divorce |

During marriages couples in the Coral Springs area earn income in various ways. In some marriages one spouse earns the primary income or all of the income while the other spouse stays home to care for children or other reasons. Other times both spouses work and earn similar incomes.

Couples also have different bank accounts and places where they put the money they earn during the marriage. Sometimes these bank accounts are joint accounts and some may be in the sole name of one of the spouses. As spouses may have different levels of income and may have separate accounts, the other spouse may not actually know how much the other spouse has in their possession. People can do things with their money and assets and their spouse may not realize what is happening with their money.

If the couple ever goes through a divorce, each spouse is entitled to an equitable amount of the marital assets. However, it is difficult for both spouses to receive an equitable division if one is unaware of how much money or assets the other spouse has in their possession. People may also actively try to hide assets to keep them from the other spouse. It is important to find hidden assets.

Where to look for hidden assets

There are certain places that people can look to determine if their spouse is hiding assets. One is by looking at the past tax returns and checking all schedules within the taxes. Look at bank accounts to determine if there are cancelled checks or unusual withdrawals. Check with the county tax assessor to determine if their spouse own unknown properties. Try to determine if the spouse’s boss is withheld a bonus or other income based on what the spouse had previously received.

There are many people who go through divorces each year in Coral Springs and the division property will be unique based on the unique circumstances of each marriage. However, in every divorce both spouses need to know the full extent of the marital assets. Spouses need to look at various financial records that may show hidden assets. Experienced attorneys understand how to find hidden assets and may be able to guide one through a divorce.


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