Going through a divorce in Wisconsin is hard enough, but couples dealing with a lot of assets sometimes have an even harder job ahead of them. If you suspect your spouse is not being forthcoming when it comes to declaring assets, there are places you can look and ways to determine if this is the case.
Huffington Post recommends hiring an investigative professional such as a forensic accountant, but this can get pricey and there are other ways to uncover these assets. These include:
- Review credit card statements, wire transfers and canceled checks
- Compare monthly expenses with monthly income and ensure the expenses are not in excess
- Search public records to see if your spouse has any undeclared property under his or her name
- Request information from spouse’s employer regarding benefits or compensation plans
- Review account statements and look for unknown transfers
- Depose the spouse if any findings do not add up
- Check for offshore income via tax return
One place some spouses try to hide income and assets is in offshore accounts. The IRS requires U.S. residents to pay taxes on any money earned from these accounts, so if your spouse is playing by the rules you should be able to find these assets by checking out the tax return. This information can be found in Part III of Schedule B and/or Form 8938, Statement of Foreign Financial Assets. You should also request Form 114, which is the Foreign Bank and Financial Accounts Report. Because this form is filed separately from the tax return it is important you ask for it so you have all pertinent information.