During my free one-hour consultations it is not unusual for me to hear,
“I think my spouse is hiding assets. I have no idea what assets
we have, or where they are. What do I do?”
At many of my seminars, as a divorce attorney and psychologically-trained
mediator with over 35 years of experience, I advise couples getting married
to pay attention to the family finances. Both parties should know about
the incoming assets, taxes, real estate etc.
I encourage spouses not to be passive. It could turn out you are married
to someone who is controlling and wants to keep you financially in the
dark. I always advise both parties to take an active role and be an equal
partner in all aspects of their marriage. It is your right as an equal
partner to participate in making financial decisions, paying the bills,
and maintaining financial records. Keeping your finger on the pulse of
your finances will also puts you in a much better position if your marriage
should unfortunately end in divorce.
If you are considering divorce, it is important to prepare yourself and
it is in your best interest to know as much as possible about your finances.
When it comes to divorce, no one likes an asset-hiding spouse.
Especially the courts!
What are some of the telltale signs assets are being hidden?
- Your spouse is secretive about money;
- Your spouse demands and maintains control over money;
- Financial statements that once came to the home, disappear or are sent
to the office;
- New financial accounts have been opened without explanation;
- Your spouse has opened a PO box;
- There have been some new “flashy” purchases (cars, watches, boats);
- You are asked to blindly sign documents without reading them first; and
- Your spouse’s behavior has changed in how financial documents are
filed or stored.
What types of assets can be hidden?
- Money (cash);
- Real estate;
- Cars, boats, antiques (housed by family and friends).
How can assets be hidden?
- Make gifts to family and friends (with the understanding it will be returned);
- Multiple Internet banking accounts--no statements mailed to the home;
- Use a PO Box as a mailing address;
- Safety deposit box at bank(s);
- Create corporations or business partnerships;
- Asking employers to delay bonuses;
- Foreign accounts;
- Overpaying the IRS; and
- Coin, art, gun, jewelry or memorabilia collections.
How can you track down “hidden assets?”
Hire a divorce attorney, private investigator and/or a forensic accountant.
Process of discovery in litigation; send out subpoenas; Trained forensic
specialists will be able to do a “ lifestyle analysis” looking
at many factors to determine if income is accurate by reviewing tax returns,
W-2s and investigating deferred salary, commissions and bonuses.
They will also scrutinize financial accounts, both here and abroad, payments
to the IRS and investments in real estate. In addition, they can do extensive
asset searches using computer forensics, obtain and review credit reports
and review irregular ATM activity.
With over 35 years of experience as a divorce attorney and psychologically-trained
mediator I can tell you, if you suspect your spouse is hiding assets,
it’s probably true!
If you are concerned and fear your spouse is hiding money, and divorce
may be where you are headed, call me. I can guide you on what to look
for, how to investigate and most important, how to get financially prepared.
It is wise to know where all the assets are so you can get the best financial
outcome in your divorce. Let us help you.
My team of forensic experts are some of the very best! Call us today so
we can help you find your assets! 212.734.1551
FREE 1 HOUR CONSULTATIONS are very
informative and conveniently conducted virtually to reduce risk!
I look forward to speaking with you.
Continue to Stay Healthy and Safe!
Call New York Divorce Attorney Lois Brenner Now to schedule your FREE consultation!
A few openings are still available for this week.