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Four Ways to Uncover Assets Your Spouse May Be Hiding During Your Divorce

Anyone who is considering a divorce will wonder how to get what in a divorce. If you are in this situation, you probably have a lot of questions in mind. In Ohio, property and assets that couples have acquired are split in a way that the court finds fair or equitable. However, what happens if your spouse has assets you did not know anything about? How will a family court split assets when one of you is hiding assets? If you believe your spouse has hidden assets and has no plans of disclosing them to you or the court, consult with a Columbus divorce lawyer as soon as possible. Here are ways you can uncover such assets to ensure a fair division of property:

Check the Tax Returns for Red Flags

Your spouse may be able to hide assets easily if you file separate tax returns. The majority of people do not hide things in their tax returns to avoid fines and penalties. Thus, you should turn to the tax returns if you think your spouse is hiding assets from you. The tax return can disclose interest from investment accounts you probably didn’t know about. The same goes for income your spouse did not tell you or taxes paid on properties your spouse is hiding. 

Review the Bank Statements

If you are like many people, you probably do not keep an eye on your bank account’s daily activity or review your statement every month. If you are in the middle of a divorce and suspect your spouse is hiding assets, review your bank statements and find small transfers to accounts you are not familiar with. Also, your spouse can hide assets in your child’s name. 

Examine Business Records

If you have a family business, your spouse can use it to hide assets. Examine the business accounts to find discrepancies or big write-offs. These might indicate your spouse is moving money into a personal account. Also, pay attention to who your spouse is paying salary to. They could use a fake worker to transfer money out of your family business and cash the checks after the finality of your divorce. 

Keep Track of Your Credit Report

You can pull out a copy of your credit report once every year. This lets you check for irregular activity on joint accounts. Find unusual financial activity or accounts you are not aware of that your spouse may have opened in your name or with your name on them.

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