When trust is lost, a marriage might fall apart. The lack of trust can complicate the divorce process. Weary spouses filing for divorce often wonder if the person they married is being honest in their disclosures. In some Sacramento divorce cases, this lack of trust may be legitimate as it is not uncommon for spouses to attempt to try to hide assets from a soon to be ex-spouse. Many people ask, how do you find hidden bank accounts during a divorce? Here are some tips that might help you in your search to find hidden assets in a divorce.
Fiduciary Duty and Full Disclosure
When a married couple is going through a divorce, is spouse has a fiduciary duty to disclose all assets including separate property. The law is clear and the reason is so property division during the divorce process is as fair as possible. This duty includes disclosing financial interests in real estate, money in bank accounts, ownership and interests in businesses, cars, etc.
One way that spouses often discover hidden assets in a divorce is by carefully examining the statements for bank accounts the other spouse discloses. Look at the statements closely to see if there have been any transfers of funds to other accounts. Write down the information for any of these accounts and provide it to your divorce lawyer. If any monthly bank statements are missing, your attorney should request the other side to provide them. These days, many people hide assets by buying into Bitcoin and other cryptocurrencies. These assets may be harder to discover, however, it is not impossible. Speak with your divorce attorney about how you might get this information from the other side.
What if my Spouse Will Not Voluntarily Disclose Assets?
Formal requests for financial information can be utilized when you believe your spouse is hiding assets from you during a divorce. Interrogatories must be answered truthfully by the party responding to them. Requests for admissions may also be used. When a request for an admission is not answered, the allegations are deemed to be true. You have a right to demand bank account information, tax filings, estate planning documents, and other relevant financial information. Tax returns might be useful in identifying a hidden bank account especially if your spouse had their tax refund deposited into an account that was not disclosed to you.
Depositions can be used to get information from your spouse they may not volunteer when they are not under oath. When a person is being deposed, they are giving testimony under oath, so they might be hesitant to lie about assets they may have been trying to hide from you.
If you are contemplating divorce or are going through a divorce in Sacramento, consult with a Sacramento divorce lawyer. Dealing with the possibility of hidden assets in a divorce should be familiar to an experienced Sacramento family law attorney. He or she will have experience handling uncooperative spouses who are less than forthcoming.