• Skip to primary navigation
  • Skip to content
  • Skip to primary sidebar
  • Skip to footer
Call For A Free Consultation651-686-8800
  • Firm Overview
    • Articles
    • Settlements & Verdicts
    • Video Center
  • Attorneys
    • Jeffrey S. Sheridan
    • DeAnne L. Dulas
    • Andrew T. Hunstad
    • Randall A. Kins
  • Practice Areas
    • Criminal Defense
    • DWI Defense
    • Family Law
    • Estate Planning & Litigation
    • LGBT Rights and Family Issues
    • Real Estate Law
    • Small Business Law
    • Federal Workers’ Compensation
    • Other Areas Of Law
  • Blog
  • Contact

Watch For Warning Signs That Your Ex Hid Assets Prior To Divorce

July 30, 2018 by Sheridan & Dulas, P.A.

Regardless of how long you have been married, getting divorced is often a difficult prospect. Not only do you have to tell everyone that your marriage failed, you also have to handle the details of untangling your life from your spouse’s. This can be a daunting prospect, and some people rush through it just to get it over with.

However, speed is not necessarily your friend in the situation. Accuracy and attention to detail are the best tools you have to help ensure the outcome of your divorce is fair to everyone. You need to keep a watchful eye out for any potential signs that your ex might be hiding assets to skew the divorce in his or her favor.

You can’t get ahold of financial documents, like tax returns

If your ex won’t share detailed financial records with you, there is probably a reason. Typically speaking, tax returns will show all income earned, even money you did not know about. It is possible that your spouse was splitting income between accounts, meaning that you never knew the full extent of the household income.

It is also possible that your spouse diverted funds from the marital account into a private account in order to hide that money from you. Unless you have a prenuptial agreement on record of that allows your spouse to maintain separate accounts with money from during your marriage, those funds belong to both of you. They should be included in the inventory of all your possessions and assets.

Attempting to hide or withhold financial records is a indicator that there could be significant hidden assets in your divorce.

Your spouse has a collection that he or she will not part with

Everyone has a hobby, but some are definitely more expensive than others. If your spouse has an expensive hobby, pastime or collection, that could be a place where you may find a significant financial value.

Some people have collections and hobbies worth tens or even hundreds of thousands of dollars. Fine art, jewelry, sports memorabilia and collectible cars are all examples of highly valuable hobby items. The good news is that even if you don’t want anything to do with your ex’s collectibles, if you itemize them and properly value them, you will receive adequate assets to offset the value of that collection.

Anything purchased or acquired during your marriage is likely marital property. That is particularly true for items purchased with income made during your marriage. The best way to ensure you are getting a fair split in your divorce is to look for any and all valuable assets and report them. If you have trouble locating them, it may be time to consider working with a forensic accountant.

Categories: Divorce

Primary Sidebar

Practice Areas

  • Criminal Defense
  • DWI Defense
  • Family Law
  • Estate Planning & Litigation
  • Federal Workers’ Compensation
  • LGBT Rights and Family Issues
  • Real Estate Law
  • Small Business Law
  • Federal Workers’ Compensation
  • Other Areas Of Law

Contact the Firm

Footer

Contact Us

Sheridan & Dulas, P.A. logo Sheridan & Dulas, P.A.

1380 Corporate Center Curve #320
Eagan, MN 55121

Tel: 651-686-8800
Driving Directions

Hours

Mon-Fri: 8:30 am – 5:00 pm

Schedule a Consultation

Practice Areas

  • Criminal Defense
  • DWI Defense
  • Family Law
  • Estate Planning & Litigation
  • Federal Workers’ Compensation
  • LGBT Rights and Family Issues
  • Real Estate Law
  • Small Business Law
  • Federal Workers’ Compensation
  • Other Areas Of Law
The information contained in this website is provided for informational purposes only, and should not be construed as legal advice on any matter. The transmission and receipt of information contained on this website, in whole or in part, or communication with the Sheridan & Dulas, P.A. via the Internet or e-mail through this website does not constitute or create a lawyer-client relationship between this firm and any recipient. You should not send any confidential information in response to this webpage. Such responses will not create a lawyer-client relationship, and whatever you disclose will not be privileged or confidential unless this firm has agreed to act as your legal counsel and you have executed a written engagement agreement with Sheridan & Dulas, P.A.. | Copyright © 2019 | All rights reserved | Disclaimer | Privacy Policy | Sitemap