What to do if You Suspect Your Spouse is Hiding Money and Assets?

Walters Gilbreath, PLLC

When the court enters its order dividing assets and the divorce becomes final, it is almost impossible to reopen the case for division of assets that were not discovered during the divorce proceeding. Even in limited circumstances where the court may have the authority to reopen the case, there are strict time limits established for distribution of newly discovered assets. If you feel your spouse is hiding assets it is doubly important to find those assets while the divorce is in process.

Some Ways Spouses use for Hiding Money and Assets

  • Colluding with their boss to delay the payment of bonuses or stock options until after the divorce.
  • Transferring any real estate spouses may own in their own name to a trusted family member or friend who promises to return it after the divorce is final.
  • Valuing antiques, artwork or any valuable collection way under market value. Or, hiding the items with a friend claiming the items were given away.
  • Withdrawing large sums of money from bank accounts.
  • Taking frequent small sums of money out of the bank with the debit card hoping you will not notice the money is missing.
  • Buying expensive items with a plan to return them or resell them after the divorce.

What to do?

Share your concerns with a Texas attorney who is experienced in tracking down hidden assets. The attorney may need to take the deposition of your spouse. You and your attorney may decide to hire a forensic accountant who has experience in tracing bank accounts and analyzing financial statements. Courts are also known to penalize spouses who attempt to hide assets during the divorce process. Contact family law attorneys at Walters Gilbreath who will know how to find those assets and who will help with your property settlement.

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