Uncover Hidden Assets
We Take Justice to Heart
Racine Divorce understands how trying a divorce can become. We want to help you make the best choices, the right choices for you and the ones you love.
Through our online and in person services, we are committed to help you obtain the outcomes you want and need in order to move forward with your life plans and goals. Ideally, we would like to help you move through a peaceful and rational divorce process. Although this doesn’t always end up being the case, we will give you our very best so you can work towards a healthy, sustainable future.
Our priorities are your priorities.
Revealing Unknown Assets
Divorce isn’t easy. There are so many different facets to the divorce process that can often seem overwhelming and unmanageable. Keeping track of them all can sometimes feel like an enormous chore. When you’re in the process of officially separating from your partner, you may discover a lot about them that you didn’t know before. You may even discover that your partner has financial or property assets that they have hidden from you during the time you were together.
If you have your suspicions and would like to know for sure if your ex is holding assets that you know absolutely nothing about, our team at Racine Divorce can help you investigate. Through our services, you will finally be in-the-know about your spouse’s complete financial status. You may be entitled to your fair portion of assets classified as community property.
What Does "Hidden Assets" Mean?
Spouses often have no option but to reveal key information that relates to all of their assets without any exception. The term “assets” covers a lot of territory which includes both tangible and intangible property. Spouses often have to share details that pertain to shared property, including bank accounts and acquired possessions.
If you hear the term “hidden assets” specifically, this means that property or financial assets exist under ownership of your partner without your knowledge. If your spouse intentionally hides any assets from you for any reason, then those assets are understandably a part of the “hidden” classification. There are many reasons and methods for spouses to hide assets from their partners. They can often transmit assets to different accounts as a means of protecting and preventing access.
Among various strategies used to conceal property, it isn’t at all uncommon for spouses to transfer funds over to bank accounts that are 100 percent unknown to their partners. Concealing assets is something that’s in no way, shape, or form legal.
What Constitutes as a "Hidden Asset"?
Assets constitute anything of monetary value – things like bank accounts, houses, cars, investments, stocks, and jewelry. Not only is this information pertinent to dividing assets fairly in a divorce, but it is also illegal. If you have a suspicion your ex is hiding something from you, it is better to gather the details now so everything is on the table for fair allocation and claim of ownership of assets come the time they need to be divided.
Earnings: Income, or knowledge of how much a partner really makes, is probably the biggest source of concealed information and property. People frequently hide their income statements from their spouse. Traditionally, men make more money than women. As unfair as this is in itself, it is also possible they could be less than truthful about their earnings and how much is accounted for in their joint assets. It isn’t unheard of for spouses to adjust the information that’s available on financial documents.
Antiquities: There may be items whose value is underestimated like heirloom antiquities. What makes antiques typical in the hidden asset realm? It can be hard for people to guess what they’re really worth, making it easier to conceal value.
Cash: Financial assets can be hidden in the form of cash, which is much harder to track than bank statements. There are also some cash varieties that are difficult to connect to peoples’ bank accounts. For example – traveler’s checks and bitcoin.
False Debt: Fake debt is a real thing, believe it or not. This describes money that is sent to a coworker or to a buddy in order to cover debt that, quite simply, isn’t real in any sense. The friend, family, or acquaintance can return the “loaned” or “indebted” money in full once the divorce has been formally finalized in court.
Jewelry: This might seem inconsequential, but you would be surprised how easy it is to hide money in things like jewelry or small objects whose value is easily concealable. A diamond ring could look insignificant, but if you look closer, a trained eye could tell you it is worth much more and could make a big difference in your separation. It would be wise to hire an appraiser to estimate the value of any jewels or objects you think might hold some worth.
Our Racine Divorce team is experienced and tactful in their methodologies on how to discover hidden assets. We will conduct a thorough investigation and confidentially inform you of our findings so you can decide how to proceed with claiming ownership.
Tracking Down Hidden Assets On Your Own
If you feel a little lost about your spouse’s financial situation, then there may be certain things that you can do to change that. People who are resourceful and savvy are often able to learn things about assets on their own. Spouses sometimes conceal documents or valuable objects from their partner. They may hide papers that came to them from the IRS, from mortgage providers, or even from financial institutions such as banks. If you want to discover possible assets that are hidden, it can also be a smart idea to check out credit reports and investment holdings in general. You can even supervise the amount of money your spouse uses on a daily basis.
If you are knowledgeable regarding a “hiding spot” anywhere in your place of residence, you may want to check it for any and all hints that may provide you information. Just remember to proceed with caution. Refrain from doing anything unlawful. Do not attempt to guess your partner’s email password. Do not attempt to open up a digital security safe that isn’t your own. Hidden assets are probably hidden for a reason, as convoluted as it may seem. But they are likely well protected and subject to risk of harm to you or your family if discovered.
We Are Here To Help You
You don’t have to remain in the dark anymore. You can always trust our skilled and thorough team here at Racine Divorce. We understand all the components of tracking down assets that are hidden. We even understand exactly how these kinds of assets may end up influencing the results of divorce cases. Hiding assets is sometimes associated with fraud. It’s sometimes even associated with perjury. If you want to stay informed and on top of all assets you can rightfully claim ownership to, we can help you do so. We will manage your case and handle your requests with confidentiality.