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Is your spouse hiding assets pursuant to a divorce?

This disclosure of assets is important pursuant to a divorce. If your spouse hides assets, this could prevent you from receiving the share of wealth you deserve.
 
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    December 11, 2013 /24-7PressRelease/ -- Are you concerned that your spouse failed to tell you about assets during your dissolution process? If you are, you should consult with an experienced family law attorney in the area. A lawyer can help you uncover assets that were not revealed during the discovery process.

To begin, a seasoned lawyer will request important documents, including tax statements, bank papers, pay stubs and other pertinent information. With your attorney's help, you may uncover a plethora of hidden assets. There a few steps that can help you get to the bottom of the issue.

First, you will need to retain all tax papers and 1099s to ensure that bank accounts wherein interest is documented have been listed. You will need to do the same for brokerage accounts, where dividends have been recorded.

Next, it helps to run a records search under your former partner's name. It is possible that the person owns property that was not initially uncovered.

It also helps to review pay stubs and other information that pertains to your spouse's income. Moreover, your professional should ensure that all income can be linked to a specific account deposit. The key is to uncover any undisclosed bank accounts where wages were deposited. You can also issue a subpoena to the employer of your spouse, which demands information regarding benefits, a deferred compensation program, retirement plans or stock options.

It also helps to investigate cancelled checks and other supportive documents for the payment of bills. This may include utilities, mortgage payments and the like. If you discover that the expenses were not paid out of disclosed bank accounts, there may be an uncovered financial account.

Another important trick is to look at family expenses. If the monthly bill exceeds average monthly wages, and if money from the savings account has not been used to support any deficits, money has probably been hidden. Furthermore, in some cases, there could be supplemental income that you did not know about.

A tedious but important job is to review account statements for bizarre money transfers to unknown accounts. If this is the case, subpoena the requisite documentation to observe the details of the account. For example, who owned the account? Was this a family member of your spouse?

Moreover, detail any credit card statements, wire transfers or cancelled checks for large purchases. This might be jewelry, art and more. If they have not been disclosed, these assets could be hidden.

These steps can help you in your journey to uncover hidden assets. However, the process is complex and involves a lot of detailed work. Your best bet is to consult with an attorney who knows how to access such information. He or she can help you with your divorce.

In the end, your spouse is responsible for being honest in disclosing assets and wealth. If he or she is dishonest, you could be entitled to 100 percent of the hidden assets. To learn more, seek legal guidance in your area.

Article provided by Stange Law Firm, PC
Visit us at www.stangelawfirm.com



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