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Divorce and hidden assets: What you need to know

On Behalf of | Oct 20, 2022 | DIVORCE - Divorce

Are you worried your spouse is trying to hide assets and money so that they won’t be part of the property division process in your divorce? If so, you should know that this often happens in divorce cases.  

While dealing with an untruthful spouse can be challenging, it is possible to find hidden assets. First, you must know the signs that this may be an issue in your divorce. 

Watch the mail for new credit accounts or bank statements

Watch for the credit card and bank statements that come in the mail in your spouse’s name. They could be new accounts if you haven’t seen the accounts before or don’t know anything about them. You should also look at any ATM receipts to see if they are from a different bank than you usually use. Finding these accounts is something you can report in the divorce proceedings to ensure they are accounted for during property division. 

Consider the possibility of online accounts

With everything going digital, it makes sense that your spouse may be trying to hide assets in an online account. Accounts like PayPal are common for hiding assets. 

Watch for large withdrawals from your joint accounts

Has a large amount of money disappeared from your account? If so, this is a red flag. It may be because your spouse wants to keep the funds for themselves. 

In some situations, finding hidden assets is straightforward and something you can do; however, this isn’t always the case. It may be wise to use the services of a forensic accountant, who can find other hidden assets like cryptocurrency and offshore bank accounts. By doing this, you can feel confident you will receive a fair distribution of assets when you divorce.