Divorce is a breeding ground for mistrust, which can make asset distribution negotiations challenging, especially in high-asset divorces. You may think or know that your spouse is hiding assets.
Therefore, these are places you should look for hidden assets during your divorce proceedings.
Look for payroll and other deposits as well as suspicious payments or withdrawals, especially. Even small, consistent withdrawals may be suspicious because they can add up over time. Review your brokerage accounts for odd distributions or sales, especially if the money was then removed from the account.
Closely review your bills, especially accounts that you did not open. Look over your credit card statements for cash advances. Also, search for payments on storage units that may hold assets.
You should also question anyone who says you owe them money, including friends and relatives, unless you borrowed the money yourself. In most cases, these individuals will approach you at some point during your divorce to ensure that they are repaid. Some friends may also come to you for payment on a false debt that was ultimately gathered for your spouse. In these cases, investigate any claim carefully to determine its legitimacy.
If your spouse is considering filing for divorce, your family business may suddenly start losing money. Look for accounts receivable where the invoices were not sent out. Consider employee payments to nonemployees, such as family members, friends or significant others. You should also look for payments to nonexistent employees or vendors the company has never worked with before. Search for anything that artificially reduced your business income.
If your spouse is clever, you may find new or antique furniture, artwork, coins and other assets that appear old but are actually quite valuable. Get accurate valuations on all your marital assets.