If You Suspect your Ex is Hiding Assets
Updated: Oct 17, 2022
So you’ve decided to file for a divorce and settlement time has come around. During the negotiation stage, sometimes a party can’t help but wonder if their spouse has been forthright in disclosing all of their assets. I thought it would be nice to briefly discuss an article I read that provides tips on how you can do a little of your own research while you navigate the divorce waters:
• Take a look at income tax returns: The article suggests that people generally tell the truth to the IRS. Look at the last five years of returns. Are there any inconsistencies in income between the tax returns and their disclosures? Are there any real estate holdings or partnerships?
• Request copies of checking and saving account statements: Look for large purchases or deposits that you are not familiar with.
• Get a credit report: You can look for lines of credit or mortgages that don’t include you.
• Repayment of a false debt: Sometimes a spouse will “pay back” a false debt to a friend of family member and have that person return the money once the divorce has been finalized.
These a just a few of the tips the article touches on. Many of the tips offered are tasks that you can easily do on your own and others will require patience or even a specialist. Whatever the case may be if you suspect that your spouse is hiding assets there are ways with which you can do some digging to uncover the truth. Don’t settle for terms that are unfair if you know in your heart that there are more assets than are being disclosed.
If there are any legal questions you may have, I encourage you to, please contact my San Jose Divorce Lawyers office. My San Jose Family Lawyer offices assists many people who are going through family law related issues. We have many Affordable San Jose Divorce Lawyer solutions for many different budgets. We help many individuals through this very chaotic period in their life. Proudly serving the following cities, Fremont, Milpitas, Los Gatos, Cupertino, Mountain View, and Santa Clara.