If you are involved in a divorce, you need to understand the most appropriate steps to find hidden assets your spouse is hiding in a divorce. Knowing these assets will play a fundamental role in increasing the number of assets you share. You want to get a significant share from your contribution to acquiring such assets. Here’s how to discover hidden assets in a divorce.
1. Testimony Given Under Oath
In this approach, both you and your spouse will be required to give testimony under oath. This is an excellent way to identify the assets that each of you has. Your attorney can question each of you about all the assets you have, including those that may have been acquired during the marriage. The questions should also be directed toward possible ways of hiding such assets.
This will give your attorney a clear understanding of the assets available for division. Your spouse may try to downplay the value of some assets or even lie about their existence. In such cases, your attorney can use the documents you have to prove the existence of such assets and their real value.
2. Financial Records
You and your spouse must provide financial records that include all the assets each owns. These records should be obtained from banks, investment firms, and other relevant institutions. The records will help identify discrepancies between what your spouse claims to own and what is actually in their name. It is important to note that some assets may not be listed in these records. For instance, your spouse may have stashed away cash in a safe or hidden account. In such cases, you will need to ask specific questions to uncover such assets.
3. Analyzing Lifestyle
One of the best ways to find hidden assets is by analyzing your and your spouse’s lifestyle. If there are any significant changes in the lifestyle, it could be an indication that your spouse is hiding assets. For instance, if your spouse suddenly starts purchasing luxury items, it could be because they are using hidden assets to finance them. If you suspect your spouse is hiding assets, you should not hesitate to seek the help of a qualified divorce attorney. An experienced attorney will know the best ways to find hidden assets and help you get a fair share of the assets.
4. Inspection Demands
Inspection demands are requests for information about specific assets. One spouse typically makes these demands to the other during a divorce. They can be used to uncover hidden assets that the other spouse may be hiding. The demands should be specific and relate to assets that you believe your spouse is hiding. Your attorney can help you draft these demands and send them to your spouse. If your spouse refuses to comply with the demands, you can ask the court to order them.
Conclusion
As you can see, there are several ways to find hidden assets in a divorce. The best way to find hidden assets will depend on the specific circumstances of your case. If you suspect your spouse is hiding assets, you should not hesitate to seek the help of a qualified divorce attorney. Contact Medina & Company Consulting, Inc. to schedule a consultation with an experienced divorce attorney today.