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Searching for Hidden Assets at
Divorce
How to find hidden assets your spouse may be concealing from you when you divorce.
This list includes common ways in which a spouse may undervalue or disguise marital
assets. Be advised, however, that you may have difficulty finding some items or getting
the proof you need to show they exist. A forensic accountant or formal discovery
procedures may help.
1. Collusion with an employer to delay
bonuses, stock options or raises until after the divorce. You might find this information
by taking the deposition of your spouse's boss or payroll supervisor, but more likely
you'll need a forensic accountant.
2. Salary paid
to a nonexistent employee. The checks will be voided after divorce. Again, you might find
this information by taking the deposition of your spouse's boss or payroll supervisor, but
you'll probably need a forensic accountant.
3. Money paid from the business to someone
close--such as a father, mother, girlfriend or boyfriend--for services never rendered. The
money will no doubt be given back to your spouse after the divorce is final.
4. A custodial
account set up in the name of a child, using the child's Social Security number.
5. Delay in signing long-term business
contracts until after the divorce. Although this may seem like smart planning, if the
intent is to lower the value of the business, it is considered hiding assets.
6. Skimming cash from a business he or she
owns.
7. Antiques, artwork, hobby equipment, gun
collections and tools that are overlooked or undervalued. Look for lush furnishings,
paintings or collector-level carpets at the office; income that is unreported on tax
returns and financial statements.
8. Debt repayment to a friend for a phony
debt.
9. Expenses paid for a girlfriend or
boyfriend such as gifts, travel, rent or tuition for college or special classes.
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