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What to do if your husband is hiding assets in your divorce

One of the most challenging aspects of the divorce process is dividing marital property. Whether out of revenge or greed, your husband may be hiding assets to prevent you from having your fair share in them.

There are things you can do to prevent this from happening to you. The sooner you start these steps, the better for your financial situation post-divorce.

Know the common types of hidden assets

You may suspect hidden property but cannot prove it without knowing what the property is. Common assets that husbands suppress are:

  • Various bonds
  • Cash and cash value
  • Collectibles and recreational property
  • Mutual funds
  • Stocks
  • Traveler’s checks

There may be others depending on your specific financial circumstances, such as if you are business owners.

Look for evidence

One of the most telling places to find proof of questionable activity is tax returns. Look for overpayments, out-of-state taxes, falsehoods about income, losses, deductions and interest. You may need the help of a tax professional in discerning information and discovering leads. Other places to look include business documents, receipts, bank and credit card statements, and phone and email records.

Recognize the signs

Perhaps you cannot find any tangible evidence of hidden assets. You need to watch out for other signs that indicate your husband is concealing property from you. Examples are:

  • Having mail sent to another address
  • Preventing you from being involved in finances
  • Making expensive purchases to keep or give to family and friends
  • Converting cash into valuables
  • Opening a new account
  • Going to countries with lenient bank regulations

If your husband asks you to sign anything, do not comply without seeking the advice of a lawyer first. In fact, a family law attorney with experience in high-asset divorces may be your highest asset during this time. A lawyer can help you uncover and recover hidden property and ensure you do so legally. Bringing your husband’s lies to light will not only benefit your distribution of assets but also your case as a whole.

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