When separating, the temptation for some spouses to hide certain assets from their ex-partner is irresistible. These range from high end luxury items such as expensive pieces of jewellery, to finances held in offshore bank accounts or shares. In most cases, couples are open about their finances. However, if you think your ex is trying to keep certain assets secret, there are steps you can take.
When separating, the temptation for some spouses to hide certain assets from their ex-partner is irresistible. These range from high end luxury items such as expensive pieces of jewellery, to finances held in offshore bank accounts or shares. In most cases, couples are open about their finances. However, if you think your ex is trying to keep certain assets secret, there are steps you can take.
If you have a family law issue and you require legal advice to understand your options, contact specialist family law solicitor Naheed Taj. Naheed is a highly acclaimed family solicitor with a successful track record in dealing with complex and challenging family law, divorce, and child cases.
The courts take any dishonesty extremely seriously. In a 2013 case, Scott Young was imprisoned for six months for attempting to hide £45 million which he had hidden in offshore trusts during his divorce. But what steps can you take to find a hidden bank account? We discuss the options.
The process a spouse has to go through to find out what bank accounts their spouse has differs depending on the method chosen to obtain the information.
Tips for finding a hidden bank account
You know your ex’s habit better than anyone, so if you’re looking at a bank statement, you probably have a good idea what transactions are questionable. But our tips will give you a great place to start your search:
- Check financial records – scrutinise bank statements, credit card bills, and other financial records to see if there are any unusual transactions or accounts that you don’t recognise. Look at any large withdrawals, cash deposits, or purchases that seem out of the ordinary.
- Look for hidden assets – your spouse may have opened a secret bank account, so looking for any evidence to support your belief, such as receipts, statements, or new log-in information, may help support any applications you may make going forward. You might even see something as innocent as a transfer from your joint bank account to another account that you didn’t know about.
- Monitor social media (but not in a stalkery way) – your ex may be sharing information about their financial activities on social media. Look out for any posts or comments that suggest they may have been spending money without your knowledge.
With all our tips, you should always work within the confines of the law. The court does not permit parties who help themselves to the other’s financial information to be used within divorce proceedings. Although questions may be asked of the individuals financial situation based on your memory of what information was contained in the documents.
In cases where documentation cannot be used to prove the existence of an asset, it is still possible to ask the court to make an “adverse inference” against the other party. The result of this is that the court is able to determine an asset exists, and can make a judgment including it in the matrimonial pot.
Using a forensic accountant
A forensic accountant could help you detect or investigate alleged or suspected hidden assets, and unstated income, including bank accounts, both overseas and in the UK. They will review personal and business finances in order to find inconsistencies and investigate financial discrepancies. This could then allow you to make the following applications.
Non-party disclosure order
A non-party disclosure order enables your solicitor to obtain documents from banks and organisations, such as HMRC and the DVLA. However, the court will only order non-party disclosure if the documents requested are likely to support the case and it is believed necessary to ensure a fair financial settlement is reached.
Search Order
This is sometimes referred to as an Anton Piller Order, or search and seizure order, and is typically used less frequently than a non-party disclosure order. Their rarity is because of the complex application process, but nevertheless may be worth considering if you have evidence that your ex is planning to destroy documents which provide evidence of bank accounts or assets. An applicant must also prove that not having these documents would cause irreparable damage to their case.
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