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Uncovering hidden assets in divorce

According to the National Endowment for Financial Education, one-third of individuals who combine their finances with a significant other admit to being guilty of financial infidelity. Many people commit financial infidelity because they believe that parts of their finances should remain private, while some do it because they are embarrassed of their financial situation. Regardless of the reason, more than three-quarters of offenders admit their deception took a toll on their relationship. For married couples living in Kentucky, hiding funds, assets or even debts often lead to divorce.   

In divorce, there is no room for financial infidelity.  To ensure each party of a divorce gets a fair share of the marital property, the courts will ask each party to provide a full financial disclosure. If either party is dishonest in his or her disclosure, the courts may hold the party in contempt of court and possibly charge him or her with fraud or perjury. Before that can happen, however, either party must prove financial infidelity has occurred.

A Huffington Post Life contributor shares a couple of methods legal professionals use to uncover assets in divorce. One of the most effective ways a person can use to find hidden funds is to follow the electronic trail. By checking a person's browser history, online bank statements, and even social media, one can easily find out from where another has been pulling funds.

If a person suspects his or her spouse has been hiding funds or assets but cannot discover anything via his or her own search, the person should hire an attorney who is well-versed in uncovering hidden assets. An attorney who is comfortable doing so will deploy high-tech strategies to reveal concealed money. One such strategy involves the use of software that performs a deep analysis of financial statements to locate anomalies in a matter of seconds.

 

 

 

 

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