How To Uncover Hidden Assets During Divorce
Even in the most amicable of situations, divorce is always an extremely difficult thing to go through. If you believe your spouse is hiding assets, the process is going to be even more challenging. Suspecting your spouse is hiding assets is hard enough, but finding them can be even harder. Below, our Santa Clara County property division lawyer explains how our legal team can help you discover assets your spouse may be hiding.
Secret Financial Accounts
One of the most common ways people hide assets during divorce is by placing them in secret financial accounts. You may think that if your spouse has not told you about these accounts, there is no way to find them. Fortunately, that is not true.
To find secret accounts, first review your tax returns from past years and your bank statements. Identify any withdrawals or deposits that seem unusual. If you can, talk to your spouse about them, as there may be a valid explanation. If you do not feel as though you can talk to your spouse, tell your Santa Clara County property division lawyer about your suspicions.
Review Your Credit Report
You may also be able to find hidden assets by reviewing your own credit report. Doing so may alert you to any joint accounts your spouse opened that you did not know about. You may also be able to find debts that your spouse incurred, but that you were not aware of. Again, if you find anything on your credit report that does not make sense, either speak to your spouse or your lawyer about it.
Review Financial Documents
During the divorce process, you will need to exchange many different financial documents with your spouse. Carefully reviewing any document you receive from your spouse is one of the best ways to find hidden assets. In particular, review investment portfolios and retirement accounts very closely. These are some of the most common tools people use to hide assets during a divorce.
Contact a Forensic Accountant
Forensic accountants are not necessary in every divorce case. They are typically only needed when one or both spouses have a high net worth, or when one party goes to great lengths to hide assets, such as moving accounts off-shore. In these particularly complicated cases, a forensic accountant will know how to find these hidden assets. When working with an attorney, they will have a network of experts they can reach out to for help on your case, including a forensic accountant.
Our Property Division Lawyers in Santa Clara County Can Help You Find Hidden Assets
Hidden assets only make the difficult divorce process even more complex. At Hepner & Pagan, LLP, our Santa Clara County property division lawyers have the necessary resources to help you locate them, value them, and determine which portion you are entitled to so you obtain the fair settlement you are entitled to. Call us now at 408-429-8336 or contact us online to schedule a consultation with one of our skilled attorneys and to learn more about your legal options.