Jump to Navigation

Revealing hidden assets can lead to a more equitable settlement

The disintegration of a marriage may take place over a number of years. Within that span of time, it is not uncommon for one spouse to secretly amass assets that are unknown to the other spouse. In fact, National Endowment for Financial Education research indicates this occurs in two out of every three marriages. The reason that a spouse would attempt to hide assets is to prevent them from being presented in court for the purpose of property division.

As an article on the Huffington Post website describes, there are a number of strategies that can be employed in an effort to keep assets hidden. Funds can be stored in offshore accounts or they can be deposited in the bank account of a friend or family member. A safe deposit box is also a place where one could squirrel away items. Stocks can be kept in secret brokerage accounts.

Fortunately, uncovering hidden assets has become easier in recent years. This is because so much financial activity is carried out via the Internet. Transactions made electronically can leave a telltale trail in their wake.

For example, a simple search of a Web browser’s history could yield results indicating financial infidelity. Some people will use the LinkedIn website to announce business pursuits they are not revealing to their spouse. And, believe it or not, there are those who are brash enough to put up incriminating posts on Facebook.

Items which are considered community property or marital assets are intended by law to be divided during divorce proceedings. In order for you to get the settlement that you are entitled to, all assets should be accounted for. This can be especially important in high-asset divorces where large sums of money and valuable property are involved.

There are methods for discovering assets that have been kept from your knowledge. A Texas divorce attorney may be able to perform an investigation which brings items eligible for division to light.

No Comments

Leave a comment
Comment Information

Tell Us About Your
Legal issue

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close
Subscribe to this blog's feed FindLaw Network