We see it far too often during divorce proceedings in CA: a sneaky spouse does what he/she can to hide assets, often to much success. This can stack things unfairly against the other person, not to mention the illegality of the act itself. For this post, we’re going over tips that can help you uncover your spouse’s attempts at hiding assets and ensuring that you get your fair share of the community property.
Remember, the information here is general in nature. When looking for customized legal advice, we recommend that you reach out to a skilled attorney. At the Law Office of James P. White, we offer free initial consultations! That being said, here’s what you should know about uncovering your spouse’s hidden assets.
Tax Returns Can Provide You With Valuable Clues
People get creative when it comes to hiding assets, but at the end of the day few people can evade the IRS and must report the income or assets in one way or another. This makes tax returns a valuable resource when on the hunt for hidden or concealed assets. Here’s a few places where you can begin digging around in:
- Itemized deductions on Schedule A
- Interest earned as reflected on Schedule B
- Profits/losses on Schedule C
- Capital gains on Schedule D
- Income from business ventures on Schedule E
These sections of a tax return can uncover discrepancies and point you towards secret investments, “business” assets, involvement in hidden business ventures, and more.
Recruit the Assistance of a Reputable CA Family Law Attorney
We hope this post gave you a starting place for where to begin your search for assets that your soon-to-be-ex is trying to lie about or squirrel away. As always, you should begin your investigation with the assistance of a qualified legal professional.
Call us at 925-271-0999 today to schedule a free initial consultation.