Think your future ex-spouse is trying to hide assets during the divorce process? You are not alone. According to a recent report by CNBC, approximately 7.2 million Americans have hidden accounts.
For some couples, the account may be an emergency credit card account. For others, the accounts are bank accounts that are kept on the down low.
Whatever the reason for these accounts, those that are started while married or that has been commingled with marital property are likely subject to the rules of divorce. This means that if you are going through a divorce and your spouse has secret accounts, you are likely entitled to a portion of the account.
I think my spouse is hiding assets. What can I do? The issue is so prevalent that The Huffington Post dug into it, providing a number of tips to help find the trail to better ensure a fair split of property during divorce.
Three of the more helpful tips that apply to most couples include:
- Monitor social media. Do not be afraid to monitor social media. Keep records if your future ex is claiming that he or she does not have enough money to meet a proposed settlement but is posting photos online of lavish vacations or luxurious gifts to friends. This can serve as evidence that he or she is hiding assets. Keeping an eye on LinkedIn can also prove fruitful, as your future ex may add a change in employment or purchasing of business assets.
- Watch the browser history. Be on the lookout for Internet visits to banks or brokerage accounts.
- Review tax returns closely. Real estate investments and other similar assets show up on these documents.
These are just a few tips from the piece. Another tip from The Huffington Post includes hiring an attorney to help uncover any hidden assets. Your lawyer can dig into this issue on your behalf, working to better ensure a more favorable outcome.
