Your marriage crumbled gradually. The once trusting bond between you and your spouse severed thanks to a combination of things. But trust was at the foundation or more accurately, lack of trust. Too many things were hidden from you, too many questions were unanswered, and it was time to break away.
Now, as you file for divorce, you must understand the importance of protecting yourself and your rightful assets. And part of that divorce journey includes uncovering some of the things that your estranged spouse may have kept from you. Namely hidden assets that are rightfully yours.
Search home, look at tax returns
As the divorce proceeds, it is important to begin looking for clues of any assets that your spouse may have hidden from you. These include property and real estate, investments as well as bank accounts to name a few.
Your estranged spouse insisted on overseeing your household’s finances, now it is time to determine whether he or she was secretive in any of these dealings. In hiding the assets from you, your estranged spouse may flat out deny such assets exist, may have transferred the assets in question to a third party or insist that the assets were lost.
It is time to become a sleuth, and here are some things to consider:
- Search your home, looking for items that may include safe deposit boxes, safes and financial documents stemming from a mortgage closure. In mortgage matters, lenders require borrowers to report every asset, liability and income source. You may even find cash in strange hiding places.
- Tax returns remain a crucial source that may provide information related to hidden assets. Discrepancies and information about items you did not know existed are obvious red flags. Scrutinize itemized deductions, too. This information may reveal tax deductions for hidden properties.
- Tax returns also may disclose income secured through rental properties, business purchases, interest earnings from sold bonds and mutual fund dividends.
Your divorce will happen. You know that your spouse hid many secrets from you, and some of those secrets may be hidden assets that rightfully belong to you, too.
