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How Do I Find Hidden Assets in a Divorce?
At best, a divorce can be seamless if both spouses agree on all the terms of their divorce. At worst, however, divorce can be messy, emotional, and intense. A common cause behind these worst-case scenarios is hidden assets.
Divorcing spouses tend to hide assets because they worry about splitting their property with their soon-to-be-ex. In a community property state like Texas, all assets and debts acquired during the marriage are subject to division. However, that doesn’t imply a 50/50 split down the middle. A judge will consider various factors to determine what is fair, which means one spouse could end up with more assets and/or debts than the other.
The thought of this frightens many spouses, especially if one spouse has more assets than the other. If you suspect your spouse is hiding assets during your Texas divorce, you may want to explore the following places:
Bank accounts
- Custodial accounts in children’s names
- New bank accounts on your spouse’s name
- Offshore bank accounts
- Unusual transactions, big or small, from martial accounts to your spouse’s account(s)
- Money transfers or false debts to third parties such as friends and family
- Cash kept in traveler’s checks
- Retirement accounts
- Credit reports
Tax returns
- Overpaid taxes
- Unreported income
- Foreign bank accounts
Business actions
- Delayed bonuses or raises
- Delays in signing long-term business contracts to lower the value of your spouse’s business
- Paying salaries to nonexistent employees
- Increased spending while profits are dropping
- Personal expenses claimed as business expenses
- Business assets transferred to third parties
- Payments to a work colleague or close friend for nonexistent “business expenses” that are later returned to your spouse
Cryptocurrencies
- Digital money such as bitcoin is widely popular, unregulated, and somewhat anonymous, so your spouse may be hiding money in the form of cryptocurrencies
Antiques, artwork, jewelry, or other collectibles
- Undervalued collectibles and pricey assets
- Transfer of possessions to third parties
- Safety deposit boxes containing possessions
Public records: Certain legal proceedings become public record. You or your lawyer can check district civil court, bankruptcy, county deed, and county tax assessor records to get clarity on where your spouse may be hiding their assets.
Is Your Spouse Hiding Assets? Let Us Know.
Our property division lawyers understand the headaches and tensions you may be experiencing right now. The last thing you need during your divorce is to deal with your spouse’s deceitful actions, so allow us to step in and do the heavy lifting for you. We can examine every nook and cranny to help uncover your spouse’s hidden assets and ensure you receive an equitable outcome in your divorce.
We’re just a phone call away at (940) 400-0475!