3 Ways Spouse's Hide Assets

30 August 2017
 Categories: Law, Blog

If you are going through a divorce and suspect your spouse is hiding assets from you, he or she might be. If you do not discover these assets prior to your divorce being finalized, you might lose out on your share of them. Your lawyer can help you locate hidden assets during your divorce, and here are three common ways spouses hide assets.

Transfer Things To Someone Else

One way your spouse might hide assets from you is by transferring the assets to someone else's name. This could be a business name or a person, and doing this would make it seem like your spouse does not own something that is really his or hers. This could include vehicles, cash, or any other types of valuable assets.

Placing Money In Hidden Accounts

If your spouse has access to a lot of cash, he or she might try to hide it by putting the money in accounts that are hidden from you. This could include overseas accounts, or it could simply be accounts at banks you do not know about it. If a spouse does this, it is likely he or she is using another address for mail correspondent with the bank. Hidden accounts are often hard to find, but hiring a private detective is one way to find these. Your lawyer might have other ways that might also work.

Storing Money In A Safe-Deposit Box

Another way spouses hide things is by using a safe-deposit box. This is a very secure type of storage box people can obtain from banks. When they rent one, no one can get into the box unless their name is listed on the form and if they have a key. This is the perfect hiding place for cash, jewelry, or other valuables.

If you discover that your spouse has a box like this, you can ask the court to make him or her empty the box out for you to see. You must get a court order if you want to see the contents of the box, and this can take time; however, the bank keeps a log of each time a person uses the box. This can help you determine if your spouse may have gone in it and removed items before the court order was issued.

If you suspect that your spouse is hiding things from you, tell a divorce lawyer. He or she can help you locate hidden assets, including cash. For more information, visit a website such as http://www.liebmannfamilylaw.com/.