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Finding hidden assets from an untrustworthy spouse

| Feb 19, 2021 | Divorce |

During the years of your marriage, you and your spouse shared duties from raising the children and household chores to shopping, cooking and overseeing finances But something has changed in your relationship as togetherness becomes less and less. And those regular discussions have shrunk as well.

As a result, you have suspicions that your spouse is hiding more and more things from you. Secrets that may include other relationships along with assets. And who can blame you? Your marriage teeters dangerously on a precipice. But why is your spouse attempting to hide assets? The only answer is that he is hiding them so you cannot get them once you divorce.

Tax returns disclose so much

As it turns out, your spouse is not the only one attempting to hide assets in a relationship. A poll conducted late last year by the OnePoll organization disclosed that 37% of the 2,000 respondents admitted to hiding money from their spouse or partner. Those who responded noted that they hid an average of more than $2,000.

But this number is peanuts compared with what your spouse may be hiding from you. If you suspect that your spouse is hiding assets, here is where to look for them:

  • In your home: Start in the place that you know best. Your home can hide many things. Look for safes, safe deposit boxes and financial records such as bank accounts and credit reports. You may uncover evidence of things such as safe deposit boxes stored at banks. Do not forget to look for cash. You may find it hidden in unusual places such as the floorboards of your car, the freezer, the ceiling, books in your library and clothing in your closet.
  • Your tax returns: These documents represent a potential goldmine in finding hidden assets. For example, itemized deductions could disclose real estate properties of which you were unaware. Other assets you find include business acquisitions, rental properties as well as interest earnings from sold bonds and mutual fund dividends.

Your spouse likely wanted to gain an advantage over you, hiding the assets while betting that a divorce is pending. Now is the time to protect yourself by being a detective in your own home. Those hidden assets are more than likely marital assets, and you deserve a share.