How to Uncover Financial Deception

When a marriage ends, honesty is an important part of securing a fair settlement, especially when it comes to finances. Unfortunately, hidden assets are a common issue in divorce cases throughout Pennsylvania and New Jersey.

Some spouses attempt to shield money, property, or investments in an effort to walk away with more than their fair share. If you suspect your spouse is hiding assets, act quickly. Working with an experienced Bucks County family attorney is key in protecting your rights.

Are Hidden Assets Common?

Financial deception happens more often than people realize. In high-conflict or high-net-worth divorces, hidden assets are particularly common, but even in more modest households, a spouse might try to conceal income, undervalue property, or transfer funds to friends or family members.

In both PA and NJ, divorcing spouses are legally required to fully disclose their financial situations. Failing to do so can result in serious legal consequences. While this is well known, it doesn’t stop people from trying to hide some of their wealth.

Some strategies to hide assets include moving money to undisclosed accounts, underreporting income, overstating debts, and delaying bonuses, raises, or promotions until after the divorce is finalized. Recognizing the signs of hidden assets early can be critical to achieving a fair outcome.

If you believe your spouse is hiding money or property, here are steps you should take:

• Gather documentation. Start collecting all financial records you have access to, including bank statements, credit card bills, tax returns, retirement account statements, and property deeds. The more information you can provide your attorney, the better.
• Work with a seasoned legal professional. A knowledgeable family lawyer can identify red flags and work with forensic accountants or investigators when necessary. Professionals can trace transactions and uncover inconsistencies that might not be immediately obvious.
• Request formal discovery. During the divorce process, your attorney can initiate discovery, which may include interrogatories (written questions), requests for production of documents, and depositions. These legal tools require your spouse to provide truthful financial information under oath.
• Issue subpoenas. In some cases, it may be necessary to subpoena banks, employers, or other financial institutions to obtain records directly.
• Be patient but persistent. Uncovering hidden assets can take time, but it’s essential to stay vigilant. Rushing through financial disclosures can leave you vulnerable to an unfair settlement.

Hidden assets can significantly impact property division, child support, and alimony decisions. If you believe your spouse is not being truthful about their finances, you do not have to face this challenge alone.

How Can I Protect My Financial Future?

By taking a proactive approach, guided by an experienced Bucks County family attorney, you can make sure all of your marital assets are fully accounted for. Then, with true numbers in place, you can receive the fair divorce agreement you deserve.

Where do you suspect assets are hidden? Whether you have recently learned about an undisclosed bank account or an expensive purchase your spouse is trying to hide, have a conversation with the legal team at Kevin L. Hand, P.C. Call 215-515-2604 to book a confidential consultation.