Carton & Rosoff PC-Attorney at Law

Resolving disputes creatively

How can you find hidden assets in a divorce?

While people in New York are married, they may share everything whether they realize it or not. For the most part, it does not matter which spouse earned the income, paid the bills, purchased various assets, which name the bank accounts were in or who incurred debts. So, if the couple divorces, they will split all marital assets no matter which spouse actual owns the assets in name. This can become a contentious issue in divorces, especially in high asset divorces when there are many assets to argue over.

So, one spouse, generally the one who has ownership over the assets or earns the higher income, may try to hide assets in a divorce to avoid having to give half of them to the other spouse. It is important for the other spouse to know about these assets, so finding hidden assets is important. In order to do this, there are a number of different actions spouses can take.

One is by analyzing the other spouse's paystubs and review the tax returns. Many times, one spouse will not see these things during a marriage and may just rely on what is deposited in bank accounts, but these documents will show true income. Spouses should also go through all bank statements from every account in the name of the other spouse. People can also check property records to see if the other spouse owns property they are not aware of at the time. Checking monthly expenses is also important. If the expenses are higher than the income that may indicate that there are hidden assets.

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Carton & Rosoff PC
150 Grand Street, Suite 305
White Plains, NY 10601

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