Exposing And Valuing Hidden Assets
Concerns that a spouse may be hiding assets, transferring assets or wasting assets are fairly common in divorce, especially a high net worth divorce. If you think that your spouse may be hiding assets, it is important to speak with a lawyer as soon as possible to prevent any further depletion of assets.
At the law office of Smith, Meier & Webb, LPA, we are very familiar with these types of cases. Our attorneys work with experienced forensic accountants to locate hidden assets. When appropriate, we file temporary financial restraining orders to prevent the other party from transferring or wasting assets. We understand your concerns and will begin working right away to protect the assets you have acquired.
How We Locate Hidden Assets
Financial assets may be hidden in many forms, such as cash, undisclosed income, stocks and bonds, mutual funds, bearer bonds, annuities and insurance. Common means of hiding assets include:
- Placing money or assets in trusts, pensions or retirement accounts
- Making investments
- Purchasing expensive items, such as vehicles, art, jewelry, collectibles or antiques
- Giving or transferring money or assets to third parties
- Using a business entity to hide assets
Forensic accountants, other financial experts and private investigators will gather and analyze your spouse’s financial statements, including bank records, investments, tax returns, credit card statements and loans. We will track your spouse’s spending and compare it to these financial records, looking for discrepancies between his or her income, spending and identified assets. After we have found hidden assets, we will value them and determine whether they are separate or marital property.