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How to uncover hidden assets in a divorce

In a New York divorce situation, things can get very strained. People are not above stooping to illegal measures to cause their soon-to-be ex-spouse pain. One way many people do this is through hiding assets so their spouse cannot get access to them. This is illegal, and it also is difficult to prove.

There are many ways a spouse can hide assets. Money can be transferred to overseas accounts or assets can be sold and the money hidden. If one spouse has not been active in managing household finances, it makes it even easier for the other spouse to hide money or assets and take advantage of the situation.

Why assets are hidden

Typically, the main reason for a person to hide assets in a divorce is to prevent their spouse from having access to them. If assets are not presented in the divorce settlement, then they are not considered. It is possible for a person to hide a large amount of money from his or her spouse and walk away from the marriage without having to share any portion of it because the money was hidden and his or her spouse knew nothing about it.

It is difficult to do

Hiding assets is not an easy thing to do, at least not anymore. Most financial transactions have an electronic trail. According to the Huffington Post, anyone who suspects their spouse may be trying to hide money should check out the electronic evidence. Looking at bank accounts, checking transfers and looking into other financial records kept online or on a computer can uncover many situations of this kind. There are also various software programs designed to scour financial records and accounts to find suspicious behavior.

Social media can also be a friend to someone trying to suss out an untruthful spouse. Pictures often tell an interesting story. A spouse claiming to be having a rough financial time yet who has pictures of a vacation in Cancun from last month will not get away with the lie.

Dealing with a spouse who is being dishonest is frustrating. Luckily, though, it has been made quite difficult for old tricks to work thanks to technology. Hiding assets is not an easy task, which is a blessing for those spouses who just want their fair share.

 

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Divorce: a Practical Guide

Divorce: A Practical Guide

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