Finding Hidden Assets During Your Divorce
Unfortunately, for many couples entering the divorce process, even before the official documents have been served, many spouses begin looking for ways to keep money or other assets away from the other spouse. This often means that one (or both!) spouses try to hide financial information.
If you believe that your spouse is hiding assets from you at any point in the divorce, do not hesitate to speak with a knowledgeable Pennsylvania divorce lawyer. The best way to protect your rights and future well being is to evaluate what assets belong to the marriage and work to ensure that you receive your fair share.
The most common ways that divorcing spouses hide assets include:
Investing in high-end goods – Perhaps your spouse is indulging in retail therapy, but sudden expensive purchases, such as artwork, antiques, property or vehicles may actually be an attempt to hide funds in plain sight.
Unusual bank activity – If you share a bank account with your spouse, keep an eye out for sudden cash withdrawals or check or credit card payments. He or she may be trying to slowly deplete the joint account before the divorce is settled.
A sudden drop in income – If your spouse’s business suddenly begins to fail or he or she starts to lose money, it is possible that your spouse is trying to delay invoices and billings until after the divorce. An experienced divorce lawyer will have seen these tricks before and can help unravel the business accounts to uncover the truth.
It is important to take a proactive approach to defending your rightful share of the marital assets. Your lawyer can also send a subpoena to any bank to determine whether you spouse is hiding additional bank accounts. Keep up-to-date statements as proof of any unusual activity on joint accounts.