Portrait of John K Grubb

Texas Divorce and Prenuptial Agreement

5005 Riverway Drive, Suite 450 • Houston, Texas 77056

Phone: 713-877-8800 • Fax: 713-877-1229

How Can I Uncover Hidden Assets During a Divorce?

Earlier in the week, we mentioned a few of the ways that spouses can use business to hide assets and prevent a judge from splitting those assets up at divorce time. Today we discuss how spouses can prevent this fraudulent activity.

Each spouse should be involved in the couple’s finances

Surprises are more likely when one spouse is left out of the couple’s financial management. This frequently occurs when one spouse owns a business or has a financial background and tends to dominate all financial management for the couple. The other spouse may not be able to match the decision maker’s financial acumen, but this does not mean that he or she should have be left in the dark.

Keep financial records like tax returns, bank statements, audit records and pay stubs in the regular course of your marriage. The goal is not to go for digging for fraud (you may have no reason to suspect any wrongdoing at all), but simply to be in the loop as to your marriage’s finances. If hidden assets become a problem at a later divorce, it can be easier to spot irregularities if you have a history of records over the years.

Financial experts and legal tools help track down hidden assets

If you suspect that your spouse has hidden assets or you know that he or she is involved in complex financial transactions, you and your attorney should enlist the help of experts like auditors, forensic accountants and private investigators to unravel any mysteries prior to the finalizing of your divorce.

Once you file for divorce, courts also have the ability to issue injunctions to prevent spouses from making abnormal financial transactions. It is against the law for your spouse to make financial moves that violate the injunction. You and your attorney can also go after third parties like banks to recover money that your spouse has hidden illegally.

Did you uncover hidden assets during your divorce? How did you do so?

John K. Grubb & Associates, P.C. – Houston divorce attorneys

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