Divorce is often stressful, particularly when it comes to dividing assets. Sometimes, one spouse may attempt to hide assets to avoid fair distribution. If you suspect your ex-spouse is hiding assets during your divorce, here are three ways to identify hidden assets and ensure a just settlement.
1. Check financial statements
Carefully review all financial documents, including bank statements, tax returns, and investment accounts. Look for discrepancies, such as large withdrawals or transfers to unknown accounts. Pay attention to any unusual spending patterns or sudden changes in financial behavior. Consistent and thorough examination of these documents can help uncover hidden assets that your spouse may be trying to conceal.
2. Hire a forensic accountant
A forensic accountant specializes in uncovering hidden assets and financial discrepancies. They have the skills and tools to trace transactions, analyze financial records, and identify irregularities that may indicate hidden assets. A forensic accountant can provide a detailed financial analysis and expert testimony, strengthening your case in court.
3. Watch for lifestyle changes
Observe any significant changes in your spouse’s lifestyle that do not match their reported income. This could include new luxury purchases, expensive vacations, or significant investments. Such changes can indicate hidden sources of income or assets. Document these observations and discuss them with your attorney to strategize the next steps in uncovering these hidden assets.
Will you receive a share of your ex’s hidden assets?
If you believe your ex-spouse is hiding assets, you may want to seek help from a legal professional. They can help you take legal steps to investigate further and protect your interests. In Tacoma, the law allows for thorough discovery processes to ensure all assets are disclosed.
Divorce can be an overwhelming situation, and dividing assets can be stressful. With the right approach and support, you can uncover hidden assets and increase your chances of securing the settlement you deserve.
