In many cases, spouses actually get away with hiding assets. Don’t let your spouse do this to you. Follow the tips and tricks below, and you’ll have a better chance of locating hidden assets during your divorce proceedings.
Tips and tricks to track down hidden assets
Forensic accountants are the experts when it comes to finding hidden assets. With a quick review of the advice that follows, you won’t become an expert overnight, but you’ll have a much better chance of uncovering hidden money.
Take a close look at voluntary disclosures: You probably know your spouse well, and you probably have a good idea about the financial assets that both of you have. Make sure to review the voluntary asset disclosures he or she puts forth during the discovery process in your divorce. Make a note of anything that appears to be missing or inaccurate.
Demand more information during discovery: You can submit a formal request to receive more information about financial accounts and other assets. Your spouse will be legally bound to adhere to these requests if you submit them in the right way. Your spouse must also answer your requests truthfully and before a certain period of time has passed. You can ask for titles, liens, bank records, financial records, tax records, trust and estate documents and more.
Schedule a deposition to ask questions: You can depose your ex-spouse before your court date. The answers your spouse provides during deposition are under oath and given before a court reporter. Lying during a deposition is a crime, so your spouse must be truthful during these proceedings. Asking the right questions can go a long way toward uncovering hidden assets during a deposition.
Don’t stop until you’ve looked under every brick and stone
The more diligent you are during litigation, the better chance you’ll have of uncovering any hidden assets. Also, the more you know about your marital asset division rights, the better capable you’ll be of protecting those rights in court.