Understanding What Can Be Hidden.
Divorce, Bankruptcies, Locating Hidden
Unreported income and hidden assets are often alleged in
divorce proceedings. Finding or locating these finances are essential when
involved in a high net worth divorces case. It is a bit complicated for
many individuals especially a spouse who is has not operated a family
business or has not been in charge of the family finances..
process of finding assets or proving unreported income is often one of the
most difficult assignments for a private investigator. There are numerous
ways to locate these hidden assets, but typically these funds, money;
properties can be placed in the hands of third parties or behind false
Normally this occurs BEFORE and DURING a divorce
procedure. Many deceptive individuals will relocate; transfer these assets
into the hands of third party, a hidden location, or into false documents.
Your attorney may try to find these hidden assets through the discovery
process, but many times, the person offering this information has already
engaged in his/her concealment of those properties.
It hast to be
examined that the cost of the investigation is worth the potential value
of the assets which are assumed, to be hidden? Your diligent and the
investigators effective preparation, it is possible to discover of these
non-disclosed assets. Just the inference that a private investigator and
financial account may be what it takes for the other party to acknowledged
You must create a realistic expectation with your
attorney and private investigator and be patient for your team to discover
these assets. To actively conceal assets always will lead to a paper trail
or chain of evidence that can be uncovered.
What Can Be Hidden:
The most common types of assets hidden are
cash, bonds, mutual funds, cash value in insurance policies and variable
annuities, stocks, travelers' checks, Series EE savings bonds, and
bearer municipal bonds.
Conversion To Hide Assets:
Conversion of cash into personal property such as art, jewelry,
collectibles, antiques, vehicles, boats and planes are also
possibilities. Hobby equipment, gun collections, original paintings,
collector quality carpets and tools are examples of asset conversion
that often are overlooked or undervalued.
Custodial accounts established under a child's social security
number as well as transfer of assets into pension, profit-sharing,
401(k), and Keogh plans are all strategies for cloaking liquid assets
from the opposing party's view. Employees can work in collusion with
their employers to delay business contracts, raises or bonuses until
after the divorce.
Transfer Of Funds.
The transfer of large
sums of money to trusts is one way individuals may attempt to disguise
assets. Another is to gift money to individuals with the anticipation of
having the money returned at a later date. These patently deceptive
strategies may be fraudulent as well.
Possible Locations, Where Assets May Be Hidden.
W2s-Detail the salary received by a party .
Interest and dividend income.
Interest from tax free bonds.
Taxable Refunds of state and local taxes.
state and federal taxes.
Retirement plan distributions.
State and local income tax.
Real estate and personal property
Interest paid, mortgage interest and points-Schedule A.
Property used to earn income or for business purpose.
Investment interest paid.
Casualty and theft loss.
Schedule B, Interest and Dividend
Schedule C, Profit or Loss from Business.
D, Capital Gains and Losses.
Schedule E, Supplemental Income and
Savings accounts and money market funds.
account statements and cancelled checks.
Lifestyle analysis: Look
at the lifestyle of the other party.
Cash flow procedures in a
Write offs of significant amounts should be reviewed.
Credit card receipts for purchases.
Credit reports for credit
Insurance statements for cash value of insurance
Off shore accounts.
Loan Applications and
Personal Net worth Statements .
Public Records Check.
Local Level Searches: Search the County Records.
Quit Claim deeds
that are filed.
County Court Records.
Searches: The Secretary of State's .
The State Motor Vehicle
Natural Resources Department titles boats and other
Unclaimed Property Researched.
Investigations And Services.