Can your ex-spouse hide assets at the bank?

Can your ex-spouse hide assets at the bank?

On Behalf of | Oct 2, 2021 | Divorce, High-Asset Divorce |

When you and your spouse decide to divorce, the division of finances and assets might take precedent over other issues, but what happens if you believe your soon-to-be ex-husband or wife is hiding cash? The American Academy of Certified Financial Litigators reports that while many divorcing individuals use digital means to hide assets, some are hiding physical cash at their local bank.

If you suspect your spouse is hiding cash at your local bank, such as in a safe deposit box, there are several ways to find out and ensure that he or she is revealing all assets during a time when secrecy might benefit them in the aftermath of the divorce.

Speak with a bank manager

Your local bank manager may have to assist you if you let him or her know that you are divorcing your spouse and you believe he or she hid the money. During a divorce, each individual must disclose all assets, so this may offer you a loophole if the bank quotes any privacy policies. While this may not work at all financial institutions, it could help you discover hidden accounts or deposit boxes.

Speak with your attorney

An attorney may help you obtain a subpoena that allows you to review cash deposits and any activity that points to hidden assets. Ask your attorney about laws connected with such actions and if you have any legal paths open to you.

Remind your spouse of any consequences

During a divorce, it is not only each individual’s duty to disclose funds, failing to do so may lead to penalties and charges later on if you can prove the cash exists. Reminding your spouse of this fact may move him or her to confess.

There are successful ways to hide assets, especially if your spouse has help from his family and friends. While you may not expose all the stashed money, some simple detective work may help you uncover much of it.