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Where to look for hidden assets during a divorce

On Behalf of | Apr 21, 2021 | Divorce |

If you’re going through a divorce in California, you’ll want to take the time to list all your marital assets. While it may be very easy to think about tangible items, like your house and your car, you’ll need to consider all the assets that either you or your spouse owned during the marriage. Finding some of these assets may be a bit tricky, especially if your former spouse is trying to hide them from you.

Start by looking at tax returns

One of the first things that you want to get your hands on is your previous tax returns. This will allow you to identify any discrepancies as far as items that are listed on the tax returns but not brought up in your divorce proceedings. Some specific places you want to look at include Schedule A through Schedule E. These areas will identify things like depreciation claims on assets, stocks and other assets that may not have come up yet in your divorce proceedings.

Think of physical places

Most of us have specific places in our homes and offices where we hide important documents and assets. Use this information to your advantage, and check these safe places to identify if there are any hidden assets in there. Think of hiding spots like safe deposit boxes or safes in your home.

Look at previous loan applications

One great resource that can provide you with a plethora of information regarding your marital assets is previous loan applications. Whether it was for purchasing a house or a car, you likely had to submit an application that included a list of your assets. You will want to examine these applications and identify any assets that are listed to ensure that they’re being covered in your divorce agreement.

Unfortunately, going through a divorce can be both physically and emotionally taxing. Sometimes, your former spouse may try to hide assets from you with the intent of keeping them all for him or herself. By utilizing these three tips, you may be able to uncover some of these hidden assets.