Maybe it’s just a gut feeling. However, something just doesn’t make sense. You might have concerns about cash stowed away. Or, question whether your spouse has concealed personal and real property. How are hidden assets relevant to your divorce? And, how will you find them?
First, all marital assets are significant to divorce actions. You may have heard of the term equitable distribution . Candidly, you can’t fairly divide assets unless both parties and the court know about them. An experienced family lawyer can assist you in locating buried income and hidden assets. Learn how you can help in the process.
The Search for Hidden Assets
Be prepared. Before you inform your spouse that you are contemplating the end of your marriage, take some steps to protect your interest. If your soon to ex-hasn’t yet attempted to hide financials from you, this might encourage he or she to start. Why make the task more difficult?
Unreported income is a major obstacle in divorce cases. Equitable distribution is just one aspect of matrimonial matters. Are you entitled to either short term or extended alimony? What about child support? Have the right numbers been supplied to calculate your share? Of course, you may also have an interest in personal or real property obtained during the course of the marriage.
In high net worth cases, the search for hidden assets is of particular concern. Here are some tips to finding them:
- Unreported income: Your ex may not report cash customers for different types of jobs. Maybe there’s a particular discount for cash on construction or other trade jobs. It might seem ridiculous, but you might want to even consider looking under the mattress.
Does your spouse receive bonuses or stock options? Take a look for check stubs to see if there are unusual spikes in income. Is there any indication that your ex has received a raise and failed to mention it to you?
- Safe Deposit Boxes: Do you share a safe deposit box together? When’s the last time you examined its contents? Take a ride over to the bank and check for yourself. Found a key to a safe deposit box that you didn’t know existed? Make sure your divorce attorney is advised of it. It is possible to get a court order to find out what’s inside.
- Disappeared Antiques, Jewelry or Other Valuables? Could these have been converted to cash? See if you have photographs of the missing items and let your attorney know about them.
- Asset searches: When it comes to searching for real estate holdings, your attorney may be able to assist you in finding them. If your ex hold assets in his or her own name, a title company may be able to find them.
- Private Investigation: Some people only think of private investigators regarding infidelity. However, private investigators have resources to find many hidden assets.
Have Questions?
Concerned that you are being shortchanged in a divorce case? At the Law Offices of Sam Stoia, we have the resources to help locate hidden assets. We do not charge to discuss your case with you. Contact us.