How You Can Find Concealed Assets During Divorce Discovery
It is not unusual for spouses to attempt to hide assets they have during the divorce process so they don’t become subject to asset division. There is a discovery phase of each divorce in which spouses and their attorneys gather as much information they can about marital assets.
But how do you use the discovery process to find out if your spouse has been attempting to conceal assets from you? Here’s some information you should know about discovery.
Discovering hidden assets
It can be difficult for some spouses to know they’re getting fully accurate information from their spouse if they did not have much of a role in managing or tracking finances. You might not even have access to all of your financial information.
If this is the case, you should first make a formal request of your spouse for copies of all financial records, from tax information to bank statements and investment account statements. You may need to work together to be able to track down all your information, but fortunately finding that information has become easier than ever thanks to how these accounts can typically be accessed online.
Most of the time, your spouse will comply simply because they are legally required to. However, some common red flags include a spouse refusing to provide certain pieces of information you’ve requested or attempting to stall. This is a classic sign of concealing assets.
If the financial information you receive from your spouse is significantly different than what you expected to receive, this could also be a sign that the information has been fabricated, is incomplete or does not account for certain assets.
In the beginning of your case, the parties will exchange net worth statements. This is a detailed statement where you must list your monthly expenses along with all of your assets and debts. It is important that you take the time to complete same and to include all of your assets, debts and expenses.
For more information about the steps you can take to find concealed assets during the divorce discovery process, contact an experienced attorney at Jakubowski, Robertson, Maffei, Goldsmith & Tartaglia LLP.