As a divorce attorney and psychologically trained mediator with over 35 years of experience, I advise couples getting married to pay attention to the family finances. Both parties should know about the assets, taxes, real estate etc.
I encourage spouses not to be passive. It could turn out you are married to someone who is controlling and wants to keep you financially in the dark. If your spouse is hiding assets that a danger signal.
I always advise both parties to take an active role and be an equal partner in all aspects of their marriage. It is your right as an equal partner to participate in making financial decisions, paying the bills, and maintaining financial records. If you are kept in the dark about your finances it a “red flag.” Beware!
Keeping your finger on the pulse of your finances in your marriage will also put you in a much better position if your marriage should unfortunately end in divorce.
During my free one-hour consultations it is not unusual for me to hear “I think my spouse is hiding assets. I have no idea what assets we have, or where they are. What do I do?”
If you are considering divorce, it is important to prepare yourself and it is in your best interest to know as much as possible about your finances.
When it comes to divorce, no one likes an asset-hiding spouse. Especially the courts!
I received a call nine months ago from a woman who was very angry, confused and seeking revenge. She told me she was married to a highly successful plastic surgeon, and she was a speech therapist. They had two children and lived in Westchester in a $9 million home.
She was very concerned about her husband’s secretive behavior. He never wanted to be transparent and insisted on handling all the family finances. He earned triple the amount of money she did and controlled every aspect of her life. She had no idea where their assets were invested or their true net worth. She repeatedly asked her husband about their finances but was ignored and ridiculed. She told me she didn’t trust him, was tired of being disrespected and wanted a divorce.
I introduced her to my litigation partner, and we explored the best strategies to use for this divorce. We consulted with various forensic experts on our team and started an extensive financial investigation. We are well on our way to a fair and successful settlement and have cleverly identified locations of the many hidden assets both in the US and abroad.
So what are some of the telltale signs assets are being hidden?
- Your spouse is secretive about money;
- Your spouse demands and maintains control over money;
- Financial statements that once came to the home, disappear or are sent to the office;
- New financial accounts have been opened without explanation;
- Your spouse has opened a PO box;
- There have been some new “flashy” purchases (cars, watches, boats);
- You are asked to blindly sign documents without reading them first;
- Your spouse’s behavior has changed in regard to how financial documents are filed or stored.
What types of assets can be hidden?
- Money (cash)
- Stocks and stock options
- Bonuses
- Pensions and retirement plans
- Real estate
- Inheritances
- Trusts
- Cars, boats, antiques (housed by family and friends)
How can assets be hidden?
- Make gifts to family and friends (with the understanding they will be returned);
- Multiple Internet banking accounts-no statements mailed to the home;
- Use a PO Box as mailing address;
- Safety deposit box at bank;
- Create corporations or business partnerships;
- Asking employers to delay bonuses;
- Foreign accounts;
- Overpaying the IRS;
- Coin, art, gun, jewelry, memorabilia collections.
How can you track down “hidden assets?”
Hire a divorce attorney, private investigator and/or a forensic accountant. Trained forensic specialists will be able to do a “ lifestyle analysis” to determine if income is accurate by reviewing checking accounts, credit cards, tax returns, W-2’s, investigating deferred salary, commissions and bonuses.
They will also scrutinize financial accounts, both here and abroad, payments to the IRS, and investments in real estate. In addition they can do extensive asset searches using computer forensics, obtain and review credit reports, and review irregular ATM activity.
With over 35 years of experience as a divorce attorney and psychologically-trained mediator, I can tell you, if you suspect your spouse is hiding assets, it’s probably true!
If you are concerned and fear your spouse is hiding money, and divorce may be where you are headed, call me. I can guide you on what to look for, how to investigate, and most importantly how to get financially prepared.
It is wise to know where all the assets are so you can get the best financial outcome in your divorce. Let us help you.
Me, my litigation partner, and my team of forensic experts are highly skilled and we will get you the best results. Call us today so we can help you find your assets! 212.734.1551
Our FREE 1-HOUR CONSULTATIONS are veryinformative and conveniently conducted virtually to reduce risk!
I look forward to speaking with you.
Stay healthy and safe!
Warm regards,
Lois
Call New York Divorce Attorney Lois Brenner now so she can help you track down your assets! Schedule your FREE consultation right now!
Call 212.734.1551.
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