When couples divorce, one individual may attempt to hide assets from his her or spouse during the proceedings. One spouse may believe he or she should not have to divide a certain asset or that the other person is not entitled to any share of it.
The Kentucky Bar association notes that those going through a divorce might seek the help of an accountant to uncover hidden assets and that there are several documents that may help a divorcing individual understand whether his or her soon-to-be-ex is not being as honest as possible during the proceedings.
Copies of checks
Sometimes copies of signed checks may provide clues about the presence of hidden assets. For example, one party may have secret or hidden bank accounts where he or she stockpiles money and does not allow his or her ex-spouse access to it. Examination of signatures and bank account numbers may reveal these accounts.
The advancement of technology in banking may assist individuals who believe their spouses are attempting to hide assets during a divorce. While a banking institution keeps funding and account information private for all its customers, an attorney may have the power to subpoena electronic banking documents during divorce proceedings to ensure both parties get treated fairly regarding the division of assets.
If either individual involved in a divorce owns a business, he or she may try to hide assets within the operations and banking system used. An internal audit may uncover such actions.
Gathering financial documents before the divorce proceedings begin may also prevent the concealment of assets. Credit reports may also reveal when an individual takes out new lines of credit to prepare for a divorce.