Hidden Assets in Divorce: How to Protect Your Financial Interests

Fear grips you as you discover unexplained bank withdrawals and missing financial documents. Your spouse’s behavior has changed, and you suspect they’re hiding assets that rightfully belong to both of you.

At Fout Law Office, our lead attorney has witnessed this scenario countless times over her nearly 20 years of family law practice. Spouses attempt to conceal assets from each other regularly, and we’ve seen the devastating toll it takes on families going through divorce.

Hidden assets in divorce are so destructive because they can:

• Reduce your fair share of marital property
• Leave you responsible for undisclosed debts
• Complicate alimony or child support
• Delay the divorce process, increasing stress and costs
• Undermine trust and long-term financial security

Understanding the risks is just the first step. Now let’s explore how to spot hidden assets and uncover the truth, so you can safeguard your financial future.

Could My Spouse Be Hiding Assets From Me?

Several warning signs may indicate your spouse is concealing assets, including:

• Unexplained withdrawals from joint accounts
• Secret bank accounts or credit cards you didn’t know about
• Sudden lifestyle changes that don’t align with visible income
• Reluctance to discuss finances openly

If you suspect hidden assets, stay level-headed rather than confronting your spouse immediately. Taking measured action now will strengthen your position later.

How Can I Find Out If My Spouse Is Hiding Money?

You have several strategies available to uncover concealed assets. Forensic accountants specialize in tracing financial transactions and identifying discrepancies in financial records. Your attorney can request subpoenas for bank records, tax documents, and other financial information your spouse might be reluctant to share voluntarily.

Working with a lawyer experienced in uncovering hidden assets is crucial. They understand which documents to request, how to analyze financial patterns, and can coordinate with forensic professionals to build a comprehensive picture of your marital finances.

What Are My Legal Rights If Assets Are Hidden?

Ohio courts take a dim view of spouses who attempt to conceal assets during divorce proceedings. When hidden assets are discovered, judges have broad discretion to impose sanctions against the concealing spouse, including awarding a larger portion of marital property to the innocent spouse, ordering additional discovery, and even holding the concealing spouse in contempt. These legal protections exist specifically to prevent one spouse from gaining an unfair advantage through deception.

How Can I Protect Myself Financially During a Divorce?

If it comes to light that your spouse hasn’t hidden assets yet, but you feel that they might, it’s important to take immediate steps to safeguard your financial position. Here are some key actions to consider:

•   Open separate bank accounts: Establish new accounts in your name for your income and expenses. This helps create a clear financial trail that is solely yours.
•   Document all marital assets and debts: Create a thorough inventory of everything you and your spouse own and owe. This includes bank accounts, properties, investments, loans, and credit card balances.
•   Consider freezing joint accounts: If you suspect your spouse might be dissipating assets, you can talk to your attorney about freezing joint accounts to prevent funds from being moved or spent without mutual consent.

Should I Hire a Forensic Accountant or a Divorce Attorney?

Both professionals serve different but complementary roles:

• Divorce attorneys: Understand the legal framework and can compel disclosure through court procedures
• Forensic accountants: Possess the technical skills to analyze complex financial records and identify suspicious patterns

Working together, they maximize your chances of uncovering hidden wealth. Your attorney handles the legal strategy, while the forensic accountant provides the technical analysis needed to prove asset concealment.

Take Action to Protect Your Financial Future

Vigilance and professional support are your strongest defenses against hidden assets in divorce. The emotional trauma of discovering financial deception compounds the already difficult process of ending a marriage, but you don’t have to face these challenges alone.

If you suspect your spouse is hiding assets, contact the experienced divorce attorneys at Fout Law Office immediately. Our team has nearly 20 years of experience uncovering concealed assets and protecting our clients’ financial interests. We’re ready to protect yours.