Divorce can bring out the worst in people, and sometimes one spouse may try to hide assets to avoid dividing them fairly.
If you suspect your spouse is hiding assets during your California divorce, it’s crucial to take steps to protect your interests and ensure a fair settlement.
Gather documentation and evidence
The first step in addressing hidden assets is gathering as much documentation as possible. Collect bank statements, tax returns and other financial records to help you get a clear picture of your joint finances. Look for inconsistencies or unexplained transactions that may indicate hidden assets. If you notice anything suspicious, make a note and gather supporting evidence.
Hire a forensic accountant
In some cases, it may be necessary to hire a forensic accountant to help you uncover hidden assets. These professionals specialize in analyzing financial records and can help you identify signs of financial misconduct, such as unreported income, hidden bank accounts or fraudulent transactions. While this may be an additional expense, it can be invaluable in ensuring a fair division of assets in your divorce.
Request financial disclosures
California law requires both spouses to provide full disclosure of their financial situation during divorce proceedings. If you believe your spouse is hiding assets, request detailed financial disclosures. This can help you compare their reported assets to the information you’ve gathered independently and may uncover discrepancies.
If you suspect your spouse is hiding assets in your California divorce, it’s essential to take action to protect your interests. Remember, the more proactive you are in addressing potential hidden assets, the better your chances of receiving the settlement you deserve.