Burke Levy, P.C.

Divorce and hidden assets

Divorce cases can get extremely ugly when a soon-to-be ex has been hiding assets. When a marriage is unraveling, some spouses will do whatever it takes to hide their money regardless of the repercussions. Massachusetts' spouses should be aware of any methods or resources that could potentially be used to discover any hidden assets.

A spouse who is hiding any income is more than likely not going to hide it from the IRS; therefore, tax returns are a great start. Cancelled checks and checking account statements can also reveal a lot along with any unusual deposits to or withdrawals from a savings account. The courthouse and tax assessor's office may also have on file any loan applications that may have been used in order to buy additional real estate. Also, one should not hesitate to check with his or her spouse's boss or friends for any other potentially hidden assets.

The anger towards an ex-spouse can intensify when the thought of hidden assets come to mind. It is extremely important for any spouse in this situation to be proactive and insistent throughout the search of any hidden assets. The advice of an experienced legal counsel can also be beneficial.

At the end of the day, divorce is never easy. Regardless of how eager both parties are to get complete the process, most divorce cases can be tiring and extremely time consuming. Massachusetts spouses who are facing divorce and are also concerned about any potential hidden assets may benefit from legal representation to help them better understand their rights and options.

Source: liveabout.com, "7 Ways To Find Hidden Assets During Divorce", Cathy Meyer, Accessed on Jan. 30, 2018

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