Ordway Law Group, LLC
Ordway Law Group, LLC
Divorce & Family Law

Where should you look for hidden assets?

On Behalf of | Nov 13, 2020 | Divorce, Property Division |

Over the course of your marriage, you and your spouse likely accumulated wealth, assets and perhaps even debt. Mistrust, hurt feelings, differences of opinion and other factors, however, may lead to your spouse attempting to conceal some of these assets from you as you move toward divorce.

To ensure you receive an equitable distribution of your shared property during your divorce, it may benefit you to know where to look for potential hidden assets.

Tax returns

According to Forbes.com, you may start to look for hidden assets by reviewing your and your spouse’s tax returns. The reporting of certain items and discrepancies in the information reported may indicate possible hidden assets and signal you to take a closer look. For example, you may discover undisclosed property when reviewing property tax deductions or identify the disappearance of assets when going through the interest and dividends section.

Mortgage and other financial documents

You may also find red flags indicating possible hidden assets in your mortgage and other financial documents. When you apply for a home loan, you must list all your sources of income, debts and assets. Reviewing this information to compare with an inventory of the assets you know about may help you uncover shared property.

Hiding spots

During your marriage, you may have used certain hiding places for the safekeeping of important documents and assets. For example, you may have kept personal documents such as birth certificates and your marriage license in a safe or other concealed spot. Checking these spaces, as well as any safe-deposit boxes you and your spouse have access to may turn up information to help you uncover hidden assets.

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