Where to Search for Hidden Assets During Divorce

QuestionMy husband just told me he wants a divorce, and he says he’s beeSearch for Hidden Assetsn thinking about it for quite a while. I’m afraid that he’s taken steps to hide money so that I won’t receive a fair share of our property.

AnswerIt’s smart of your to be suspicious. Although by and large people are pretty honest while going through divorce, too many women trust their husbands when they shouldn’t. Looking for hidden assets is part of my work as a forensic accountant. Here are some of the places your spouse may have hidden assets.

  • Antiques, artwork or hobby equipment that is overlooked and undervalued. Look for lush furnishings in his office.
  • Collusion with his employer to delay payment of bonuses, stock options or raises until after the divorce.
  • Income, often cash, that is unreported on tax returns and financial statements. You life-style costs during marriage probably exceeded reported income, so document your cash expenditures.
  • A custodial account set up in the name of a child, using the child’s social security number.
  • Debt repayment of a phony debt to a friend or family member, with the pre-arrangement that the friend will hold the money until after the divorce, then give it to your husband.
  • Salary paid to a nonexistent employee from your husband’s business. The checks will be voided after divorce.
  • Money paid from the business to someone close, such as father or girlfriend, for business services not rendered. The money will no doubt be given back to your spouse after the divorce is final.
  • Delay in signing long-term business contracts until after the divorce.
  • Expenses paid for a girlfriend, such as gifts, travel, jewelry, rent or college tuition.
  • Investment in municipal bonds or Series EE Savings Bonds for which no interest is reported on tax returns.

Comments

  1. Sunshine Irwin says:

    This is a great article, I recently went through a divorce and needed to find my husband’s hidden assets and I came across this website called Docusearch.com. They had this article on hidden assets that really helped me as well. http://www.docusearch.com/category/hidden-assets

  2. Sunshine Irwin says:

    My husband did the same thing, I knew he had money hidden. I was a working mother with three kids and did not have to time to look for the money, nor did I even know where to look. I spoke with my lawyer and he told me I should look at a private investigator I found Docusearch http://www.docusearch.com/category/hidden-assets. They were amazing and were able to help!

    • Teresa Coriell says:

      Sunshine:

      Did Docusearch help you directly or was it their article that helped?
      If they directly what were they able to uncover for you?

  3. Frances says:

    First off none of these web sites can actually locate bank accounts for you.
    These are all scams, because the simple fact is that it is illegal to conduct bank account searches.

    It is law and if they conduct an illegal search you the client can and will get in trouble.
    Bank searches conducted illegally cannot be submitted to court because it would reveal that you engaged in illegal actives..

    Do not waste your money.. Just pay for a forensic account so it can be executed via the courts in a legal fashion..

    Read the law… http://www.jdsupra.com/legalnews/why-it-is-critical-to-conduct-asset-sear-86954/

  4. Frances,

    Your information is completely wrong. It appears that you did not do your research before publishing this post. All you did was simply re-post an advertorial for a database company who lack the skills, experience, knowledge and license to conduct legal bank searches. As a licensed private investigator, I can tell you that bank account searches CAN be performed legally. The “Financial Services Modernization Act of 1999 did not outlaw bank account searches, rather the means that most investigators performed them, ie pre-texting banks posing as the customer. There are other LEGAL methods capable private investigators employ to secure this valuable information. The licensed investigators mentioned in the first post (docusearch.com) use legal methods to obtain bank account records and these records may be used in court.

    • Hello,
      I just had a question my mother is sick and her boyfriend has basically cut off all contact with her from the family. We’re concerned that he’s talked her into making out a will and hiding assets. We don’t have the money to hire anyone to look for the paperwork or the accounts is there anything we can do ourselves. We know that if we leave this until after she passes he’ll get everything and that’s not fair to the grandkids. And since he has kept her from getting medical help as well there’s no proof of her illness so we would have a hard time getting any will over turned.
      Thank You…

  5. What if Husband hides income in foreign account or own foreign property. I have a vague idea of how much he is hiding but no documentary proof. All the properties are in India, and in India there is no concept of marital property and there fore no concept of fair division of property.

    • If your divorce is in the United States the laws of your state will govern, not the laws of India. So if it is marital property in your state, then it is marital property, no matter what Indian law says.

  6. Hello,

    I need an advice for my daughter. She left her abusive husband and now they’re going through a divorce. She has her two little one with her and now living with me. They went through mediation but he doesn’t want agree to anything. He threaten her before she left him, that she won’t get anything out of him. Anyways my daughter found another house online under his name but he later transfer it to someone else. Any suggestion of how we can track the transfer history? He’s basically lying to the court and now taking the divorce to trial. Any suggestion would really appreciated. Thank you

  7. Karla g. says:

    Hi, I’m a immigrant women and I married an American citizen 6 years ago, we have been together for 9 years and have 2 children. I have been physically, mentally and economically abused by him, there had been arrests and restriction orders agains him trough the years also photos of the injuries and my kids are witnesses to the abuse. Also he recently cheated openly for several months and I said opently because he introduced her to his family and friends, so I have begun humiliated in every way possible. I’m scared of filing for divorce because 5 years ago we bought a house with his mother help because my husband’s credit is the worst, so the house was put on his mothers name, but all payments are made by him. We also have a tenant that knows me and him as the only owners however the lease was made with his mothers name on it. I’m afraid that if I file for divorce neither me or my kids won’t receive what by right belongs to us. He also overly spend money from a small family bussines in his afair. Please help I can’t afford a lawyer due to my dependency to him because he prohibits me from working. If you could be so kind to provide me with advice I will really appreciated. Thank you so much !!!!

  8. After my devorce now he has over two million dollars i don’t have five thoundsand5,000 up front i please need help till i can give back & more!!!!

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