Many divorces in Florida bring about feelings of disbelief, sadness and distrust. If you caught your spouse keeping things from you, you may be wondering whether he or she is hiding assets from you as well.
Here is some information from Forbes about finding hidden assets in a divorce.
Do some serious thinking
Revealing all assets during a divorce is a legal requirement as part of the financial disclosure process. This confers fair distribution to both you and your ex and sets any alimony accordingly. However, many times people try to hide money or other property from their partners to avoid sharing these resources. Finding hidden assets can be challenging but possible. If you suspect concealed wealth in your marriage, there are things you should look for to aid in uncovering it.
It is important to recognize that there are different methods used to hide assets from view as well as different hiding spots. Many of these leave a paper trail that you might uncover. Sometimes a party claims a lost particular asset or states that it never existed. Other times they transfer the asset to a third party so that it is out of their possession. And yet another common method is to manufacture false debt to hide assets. By looking at prior tax returns, you may spot some assets to investigate.
Do some physical investigation
After giving much thought to the location of potentially hidden assets, you should begin your search for documents and other objects. Consider tangible places such as:
- Common hiding spots in your home
- Safes and vaults
- Desk drawers
- Bank safety deposit boxes
Sometimes items are in a very obvious location even though your spouse chose not to disclose them during the divorce proceedings.
In addition to a physical search, it is vital to examine paperwork such as mortgage closing documents and tax returns. Scrutinizing Schedules A, B, C, D and E of your tax returns and cross checking them against known assets might reveal things such as rental properties or capital losses from securities and other investments.