If you are going through a divorce, dividing assets is probably top of mind. Unfortunately, some people hide property and other assets, so they do not have to go through the division process.
If you suspect your spouse is not fully disclosing everything, there are some things you can do, such as thoroughly inspect financial statements or hire experts, to discover them.
Scrutinize current disclosures
FindLaw discusses that you and your spouse each voluntarily disclose assets during the initial discovery process. Closely inspect what your spouse shares, and review statements from joint accounts. Look for unknown expenses, missing statements and errors. If you do not agree with the value of a particular asset, it may be worth independently appraising it.
Make formal requests
Another way to find hidden assets is to make a formal request via the court. Your spouse has a legal obligation to provide the requested items, which may include:
- Individual checking or savings account statements
- Safe deposit boxes
- Estate documents, such as trusts
- Tax returns
- Retirement account statements
- Liens or titles
There is also a specific time frame in which your spouse must present the requested information.
Depending on the total value of suspected missing assets, it may be worth hiring experts to assist in your search, and a private investigator is one possibility. CNBC states that cryptocurrency has become a popular way to hide assets. If you suspect this is the case, a forensic expert can help track down digital currency, although this can be expensive.