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Understanding Hidden Marital Assets

Hiding assets during a divorce is not only immoral, it’s also illegal. While you should never do this yourself, your spouse should not be able to get away with it, either. If you suspect your spouse is hiding money from you during your divorce, you have every right to involve an attorney.

Finding Hidden Assets

Because almost everything is done electronically in the modern world, hiding money or other valuables is much harder than it used to be. There are “paper” trails for everything, so the first part of your search should be on the computer. Checking bank accounts, tax documents, and credit reports is a natural first step, and diving into your spouse’s social media or browser history can also reveal clues. If you find any evidence that suggests financial infidelity, you should contact a divorce attorney right away.

Other places where assets are hidden are often in plain sight. Someone who is trying to hide their assets may undervalue antiques, furniture, or hobby equipment – or buy a bunch of new, expensive things. Look for new purchases, especially in private spaces or office locations.

Many people create fake debts and use them to funnel money away from a divorce. If your spouse claims that he/she is paying a debt to a friend, look into this claim, as the money may be staying with the friend for safekeeping. Another situation that may arise, especially in the case of infidelity, is money going into a new relationship. If your spouse is “spoiling” a girlfriend or boyfriend, they may be using that person to hide money from you.

In some cases, someone who is hiding assets will create new accounts, often in the name of a child or business. In others still, they will just claim the money is “lost.” Try to investigate accounts you are unfamiliar with and think of raises, bonuses or other money that never appeared.

Asking for Help

Going through a divorce can be truly terrible and finding out that your trust was betrayed in this way can make it even worse. No one wants to feel suspicious of someone they shared a life with, but this distrust can be the correct instinct.

If something doesn’t add up in your spouse’s financial situation, give us a call at (818) 960-1330 today. At Aharonov & Revy Family Law, we offer free, 15-minute phone consultations. Don’t hesitate to schedule one online.