When a marriage involving high-value assets ends, financial matters can get complicated. Sometimes, one spouse might try to hide wealth, making it hard to divide things fairly. Uncovering hidden assets becomes not just a matter of financial security but of justice and equitable division.
Follow the paper trail
Thoroughly examine all financial documents, including bank statements, tax returns and investment portfolios. Look for anything that seems out of place, such as unexplained withdrawals, sudden income decreases and new accounts. These red flags often indicate attempts to hide assets and warrant further investigation.
Leverage technology
In today’s world, wealth is not just about what is in the bank. It is also about what is online. Examine cryptocurrency accounts and digital wallets, which can store significant wealth. Social media can be revealing, too. If your soon-to-be-ex is posting lavish vacation photos while claiming financial hardship, it might be time to dig deeper.
Enlist professional help
The complexity of high net-worth divorces often requires experienced know-how. Forensic accountants can unravel complex financial schemes, while private investigators can track down undisclosed physical assets. Financial analysts can spot irregularities in business finances that might indicate hidden wealth.
Look beyond the obvious
Be aware of non-traditional assets. Valuable collectibles, intellectual property rights and offshore accounts are common hiding spots for significant wealth. These easily overlooked assets require thorough investigation.
Trust your instincts
Financial discrepancies are not always immediately apparent, but they often leave subtle clues. Pay attention to any financial patterns or behaviors that seem inconsistent or unusual. If spending patterns change dramatically, if there’s reluctance to share financial information or if the lifestyle does not match the reported income, your instincts might be onto something.
Remember, uncovering hidden assets is not about revenge — it is about getting what is fair and equitable. With patience, diligence and the right approach, you can bring these assets to light and secure your financial future in a high net-worth divorce. Given the complexities involved, it is wise to consult with a skilled divorce attorney experienced in high net-worth cases.