As you divorce, alimony is likely one major factor that could direct your life in the aftermath. Your local court typically sets the amount you receive; however, your ex may decide to try and hide assets to prevent paying a higher amount each month.
CNBC reports that certain types of documentation may provide you with clues to finding hidden assets and that these may lead you to proof of any wrongdoing.
Your spouse may try to hide funds in a 401k or health benefits account to avoid paying higher alimony amounts each month. If you suspect this is the case, then perusing a tax return could provide you with clues. If your spouse provided bank statements along with the return, these could disclose where that hidden money is. If you do discover a hidden 401k account, you may ask the court that your ex-spouse share the total amount with you.
If your ex owns a small business, he or she may funnel money into commercial accounts to hide it. This means moving money from one account to another, hiding it in parent company accounts and setting up business accounts in someone else’s name to conceal funds. While you may have to commit to a bit of detective work or hire an accountant to do the sleuthing for you, this may turn up more funds than you expected.
Remaining aware and vigilant about joint-funds before and during a divorce can help you protect your future. Watch for frequent cash withdrawals and money moved often between different accounts, as these are often red flags that your ex is trying to hide funds.