It is no secret that high-net worth divorces often tempt some partners to hide assets. As deplorable as hiding assets sounds, it is very common. Providing erroneous information about marital and personal assets and finances during divorce is a crime that can result in jail time, fines, and other consequences.
If you suspect your soon-to-be ex-partner is not being completely truthful with you or the courts, consider using the following tactics to discover any missing or hidden marital assets.
Check your records
Part of the divorce process requires you to inventory and document your personal and marital assets. This includes financial accounts, gifts, inheritances, business assets, etc. Check your tax returns and other financial statements that you have access to for information on hidden assets. Do not access any information you do not have their permission for, such as hacking into their social media, email, or bank accounts.
Get a forensic accountant
Depending on your circumstances and the length of time or the value of assets potential hidden assets, you may find it beneficial to work with a forensic accountant. This professional can trace your partner’s financial activity and spending habits to determine if fraud or some other illegal activity is compromising his or her ability to provide complete transparency about their financial situation, including the source of any hidden assets.
Not all cases of hidden assets are intentional. Sometimes, the lack of full disclosure is an oversight. Regardless of how much you trust or distrust your partner, taking measures to ensure that all marital assets are taken into consideration is crucial to protect your interests and right to your fair share of marital property.
