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Episode 59 of Divorce and Your Money focuses on the role of a CPA in finding hidden assets or income during your divorce. The subject of hidden assets or hidden income is a complex topic. You need to be aware of all the tools at your disposal when trying to figure out if your spouse may be hiding assets from you. CPAs are trained to figure out if people are trying to hide assets. A CPA will look at financial documents or statements such as tax returns, personal and business statements, credit card statements, expense reports, and if you have a business, they will look at accounts receivable and accounts payable, regulatory filings, ownership interests, stock certificates, and other important documents. A CPA can find these tiny details and any shady transactions. If you are not involved in the family finances, it may be especially important to hire a CPA. Your spouse might have a separate account that they have deposited money into over the years. He may have even set up separate companies in other states or even countries. If your spouse has threatened you and implied that you will never find any money, you have one more reason to hire an accountant. Key Takeaway: There are many ways your spouse could be hiding assets from you. An accountant will look at financial information and track it through the years, looking for similarities and anything that seems odd. Thank you for listening to the Divorce and Your Money show. We hope the show helps you through one of the most difficult periods of your life. Shawn Leamon is also the author of Divorce and Your Money: The No-Nonsense Guide. Personalized divorce advice is available at www.divorceandyourmoney.com. If you enjoyed the show, please take a moment to leave a review on iTunes as it helps other people discover this free advice.
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