Hidden Assets in Divorce
There are a number of ways that one spouse may try to undervalue or hide assets from another spouse during a divorce, such as:
- Collusion with an employer to delay the payment of bonuses, commissions, stock options, or annual raises to salary;
- Failure to disclose retirement accounts;
- Undervaluing personal items, such as artwork, antiques, collections (coins, guns, sports memorabilia, etc…), and hobby equipment;
- Opening custodial accounts in the name of a child;
- Moving assets to an offshore account,
- Skimming cash from a business and/or other unreported income, and
- Placing assets in a safe deposit box.
In order to locate these assets, it is usually necessary to hire a forensic accountant who can gather and review evidence and present his or her findings to the court. Contact me today for more information, 314.655.5500.