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My spouse is hiding marital assets. What do I do?

On Behalf of | Jan 7, 2022 | Divorce |

When a couple decides to divorce, the court will ask them to declare their assets to the court for purposes of division of marital property. Unfortunately, this tends to be one of the strongest points of contention, especially if there are hard feelings.

A spouse may not want to share specific marital assets and move or hide them to avoid those items being subject to Idaho’s equitable property division law. Here are two things you need to do if you suspect that your spouse could be hiding marital assets.

1. Collect your evidence

You will need to prove your claim that your spouse is hiding assets. This is where evidence comes in. Before alerting the court, or confronting your spouse, about the hidden assets, you will need to put together evidence of suspicious transactions, financial misappropriations and other discrepancies. The evidence may include joint accounts statements, tax returns documents and a catalog of unexplained assets such as clothing, jewelry, and gifts.

2. Enlist professional help

Once you have gathered evidence to prove that your spouse is indeed hiding assets, you need to engage professional help. This can be in the form of a forensic accountant that will help you trace and recover the hidden assets. The forensic accountant should work closely with your legal representative during the asset recovery process to, among other roles, value the recovered assets and provide expert testimony about their findings in court.

Divorce can be a daunting experience. If you suspect that your spouse is hiding marital assets, it is important that you take immediate action to safeguard your interests and ensure that you get what you deserve during the divorce process.