rechel & associates, p.a.
Search for hidden assets during divorceBy Theodore Rechel On November 24, 2011
As your Florida divorce attorney will likely tell you, in order to receive the financial distribution and support you deserve during divorce, all marital assets must be identified and valued. Unfortunately, many spouses hide assets, when separating and divorcing. They key to finding hidden assets during divorce is, first, to be able to identify what assets to look for; and, second, to know how to look for them. We’ll show you how to do both here. If you have additional questions or concerns, consult with a qualified Florida divorce attorney.
Look for These Assets if You’re Going through a Divorce
Your spouse may have hidden, disguised, or undervalued these assets.
- Cash or travelers’ checks kept in a home or office safe or safe deposit box
- Custodial account in name and social security number of a child
- Hidden retirement accounts
- Undisclosed frequent flyer miles
- Delayed work bonuses, stock options, or raise
- Delayed closing of long-term business contract
- Unreported income (i.e. cash deals) and skimming cash from business
- Overpayment of taxes
- Absorption of tax refunds
- Unreported antiques and jewelry
- Unreported art (rugs, sculpture, pottery, paintings, photographs, etc.) housed at the office
- Collections (art, baseball cards, memorabilia, silver, etc.)
- Fake debt repayment to friend or family member
- Fake pay to friend, family member, or fake employee
- Lavish gifts to boyfriend or girlfriend (i.e. jewelry, gifts, rent, tuition, travel, art, car, etc.)
- “Bearer” municipal bonds or series EE savings bonds
- Time shares
How to Find These Assets if They’ve Been Hidden
- Collect as much financial information as you can before you separate. Collect copies of old and current financial statements; tax returns; investment and bank account statements, including ATM withdrawal records; credit card statements; and pay stubs. Look for payments to a financial adviser, accountant, or attorney, who may be helping your spouse hide assets. Keep this information at a friend’s house or in a safe deposit box, until your meeting with your divorce attorney.
- Check your credit report for any unusual activity.
- Call your spouse’s human resource department and ask for a copy of all payroll records.
- Hire a qualified Florida divorce attorney as soon as possible; he or she will provide good advice and give you specific steps to follow to protect your best interests.
- Your attorney may suggest that you hire a forensic accountant who will analyze your spouse’s finances to find any hidden assets and financial inconsistencies.
- Your attorney may advise you to have your spouse’s boss questioned (i.e. deposition) during your divorce case.
Where to Get Help Finding Hidden Assets during Divorce
If you or a loved one is going through a separation or divorce, or expects to go through a separation or divorce, consult with a qualified Florida divorce attorney.
We focus our practice on divorce and family law and you can reach us at (813)-931-8111 or by email at firstname.lastname@example.org. Our office is located in Tampa, Florida; your next step is to contact our office for a consultation. We look forward to hearing from you.