5 Steps to Spot Hidden Assets in Your Divorce

Something doesn’t feel right. You’re sitting across from your spouse, reviewing financial documents, but the numbers don’t add up. Perhaps the bank statements reveal unexplained transfers, or their reported income appears suspiciously low. Trust your instincts—these feelings often signal hidden assets.

Hiding assets during divorce proceedings is more common than you might think, especially in high-asset cases. At Mahoney Richmond Thurston, we’ve guided countless clients through complex divorces where one spouse attempted to conceal marital property. When you suspect financial deception, taking swift action protects your right to a fair settlement.

Let’s explore the five essential steps to uncover hidden assets and secure what’s rightfully yours.

Step 1: Gather and Organize Financial Records

Start with what you know. Collecting comprehensive financial documentation creates the foundation for spotting discrepancies. Request at least three years of tax returns, bank statements, credit card records, pay stubs, mortgage documents, and investment account information.

As you review these documents, watch for red flags:

• Unusual transfers or large cash withdrawals
• New accounts you’ve never seen before
• Sudden changes in income patterns or debt levels
• Unexplained expenses or business transactions

Even small inconsistencies can reveal larger problems. Document everything carefully, as these details will become crucial evidence later.

Step 2: Watch for Warning Signs

Pay close attention to behavioral changes that might signal asset concealment. Has your spouse become secretive about finances or suddenly locked you out of accounts you previously accessed? These actions often indicate hidden assets.

Other warning signs include:

• Overpaying taxes or delaying business income
• Transferring money to friends, family, or questionable “business expenses”
• Purchasing expensive items that could be undervalued or unreported
• Creating new business entities or partnerships

Don’t dismiss your concerns. When something feels off, it usually is.

Step 3: Use Legal Tools to Demand Full Disclosure

Your divorce attorney can employ powerful discovery tools to compel transparency. These legal mechanisms include interrogatories (formal written questions), document requests, depositions under oath, and subpoenas that force banks or employers to provide records.

Virginia law requires both parties to provide complete financial disclosure during divorce proceedings. When your spouse refuses to comply or provides incomplete information, the court can take action to enforce these requirements.

Step 4: Bring in a Forensic Accountant (If Needed)

Complex cases, particularly those involving business ownership or substantial assets, may require professional analysis. These professionals can:

• Analyze tax returns and financial statements for irregularities
• Reconstruct financial transactions to reveal hidden transfers
• Value business interests and other complex assets accurately

While this step involves additional costs, it can make a dramatic difference in high-asset divorces where significant sums are at stake.

Step 5: Fight for a Fair Outcome

Once hidden assets surface, your divorce attorney can request that the court redistribute property fairly, impose penalties on the dishonest spouse, or even modify a settlement if you’ve already agreed to terms based on false information.

Virginia courts take asset concealment seriously. Judges have broad authority to remedy these situations, including awarding you a larger share of discovered assets or ordering your spouse to pay additional attorney fees.

Don’t Settle for Less

Uncovering hidden assets requires skill, persistence, and legal experience. The process can be complex, but protecting your financial future is worth the effort.

Don’t face this challenge alone. The experienced divorce attorneys at Mahoney Richmond Thurston have successfully handled numerous high-asset divorce cases involving concealed property. We understand the tactics dishonest spouses use and know how to counter them effectively.

Contact us today to discuss your situation and learn how we can help secure the fair settlement you deserve.