Jenkins P.C.

Some steps may help in uncovering hidden assets during divorce

Couples in California and elsewhere decide to get divorced for a multitude of reasons. However, the common factor in many divorces is the destruction of trust. When distrust is the problem, it is possible that one of the spouses might have hidden property from his or her significant other. For this reason, it is critical that those going through divorce ensure that all marital assets are uncovered during their divorce proceedings.

Understanding how individuals often hide their assets may be helpful for tracking down hidden assets more efficiently. The majority of individuals hide property by denying that the property exists or transferring this property to third parties. They may also claim that the property was lost or create false debt.

Proving that the abovementioned events have taken place can be difficult. However, most hidden assets usually have paper trails tied to them. Specifically, a helpful place to begin a search for hidden property is a past tax return, as tax returns are usually the quickest to find and access. Specific reported items and discrepancies in them may raise the red flags needed to uncover property that has been hidden.

Trying to find hidden assets can be an overwhelming process during divorce. However, a good first step is to inventory all assets as soon as possible in the divorce proceeding. An attorney can provide divorcing individuals with the advice they need to track down hidden assets and pursue their fair share of assets as they go through the divorce process in California.

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