Texas is a community property state, which means that assets and debts acquired by couples are seen as belonging to both parties. However, a 50/50 split is not a guarantee. Out of fear or greed, your spouse may try to hide assets from you during your divorce. If your spouse is hiding assets, you may notice some of the following warning signs:
- Paying unknown debts
- Opening a private P.O. box
- Overpaying any debts
- Making surprising, expensive purchases
- Transferring funds out of joint accounts without explanation
- Changing account passwords
Hiding assets is considered fraud and has serious consequences. Yet people still conceal certain assets (i.e., cash, accounts, income, collectible or antique property, benefits). If you suspect your partner is hiding assets, you and your lawyer can seek evidentiary proof.
How to Search for Hidden Assets During a Divorce
While you may consider hiring an investigator to unearth hidden assets, you can also work with your attorney to reveal hidden assets. To uncover the assets and gather evidence, you should collect and gather information included in:
- Tax returns
- Bank statements
- Bills and receipts
- Photos (of undisclosed property)
- Written testimonies from friends, co-workers, or family members
What to Do If You Discover Hidden Assets After Finalizing Your Divorce
If you discover your ex-partner hid assets, you might be able to file a motion to amend your divorce agreement with the recently discovered assets or income considered. Court order modifications typically apply to child custody or child/spousal support agreements, but property divisions can be addressed in some instances.
An experienced family law attorney will be able to best help you explore your options. They will understand the laws and how to help you move forward.If you are worried your ex-spouse is hiding assets, our legal team is dedicated to ensuring our client’s interests are protected. At the Law Offices of Mark M. Childress, PLLC., we work tirelessly to provide our clients with aggressive, personal legal representation. For help with your divorce case, contact our firm online or at (817) 497-8148.