Uncovering Hidden Divorce Assets Can Be a Tricky Game to Play

Divorce is difficult but it's even harder when a spouse has stashed away some money. The first best place to look is in a tax return. Start with Schedule B, where dividends, interest, capital gains and losses are matched with known investments. When the math doesn't add up, it's a red flag that there might be a secret account. Another clue is when a departing spouse overpays a credit card with the intent of applying for a refund after the divorce is final.

Related Videos

  • How to File Taxes When Divorced: Divorce and Taxes Explained

    http://turbotax.intuit.com How do you file taxes when you are divorced? If you are in the process of divorcing your spouse, you may be interested to learn about how your tax return will change once you are no longer eligible to file a joint return. Find out more about divorce and taxes with this helpful tax tips video from TurboTax.

  • Perfect Tax Storm Has Advisers Selling Some Assets

    Combine stock gains, exercised options, bonuses and mutual-fund distributions with higher tax rates and disappearing deductions and some investors face whopping 2013 tax bills. Advisers did what they could to prepare, but some are now selling bonds, which they feel face an uncertain environment, to meet the payments.

  • Don't Be a Victim of Online Theft, Protect Your Digital Assets

    People need to manage and protect their digital assets, including their online reputation, says Anthony Fittizzi, Managing Director at U.S. Trust. For example, Fittizzi says consumers should use one credit card for online purchases and another for day-to-day shopping. He also warns against putting social security numbers online. Finally, people should vigilantly monitor their account statements to protect themselves from online thieves.

  • Tax Time: DIY or Call an Accountant?

    There¹s no room for error when it comes to the IRS, which is probably why 59% of Americans pay someone to do their taxes for them. According to the National Society of Accountants, taxpayers with straightforward returns will pay an average of $152 this year, while those who itemize their deductions will pay $261. H&R Block, which employs tax preparers rather than certified accountants, charges an average of $198. But is that worth the cost?

  • Social Security Strategies for Divorced Couples

    You may be able to claim a benefit based on your ex-spouse's earnings.

  • 10 Missteps With Tax-Sheltered Accounts

    IRAs, 401(k)s, and Roth accounts are key components of your toolkit, so make sure you get the most out of them.

  • 5 Hidden Tax Deductions You Should Know About

    Tax expert Ronson Shamoun shares real tax deductions you have never heard of before.

  • Innocent Spouse Rules in Tax Payment

    In this video Lawrence Lawler, National Director of the American Society of Tax Problem Solvers, describes the alternatives a taxpayer has to resolve problems with the IRS. He covers numerous IRS programs a taxpayer may use to deal with unpaid taxes.

  • One Couple, Two Bank Accounts?

    Studies have found that the more couples fight over money, the more likely they are to break up or get divorced. So how long after dating should people open up about finances? Should they consider never combining their finances?

  • 3 Hidden Fees to Watch Out For

    You go to check your bank account – and may we say you are on top of your finances – and you’re shocked that your account is $20 even $100 less than what you had budgeted. Surprise! Hidden fees are at it again! The List’s Brien McElhatten tells us how to stop surprise fees once and for all on What’s The Deal.

  • What Your Spouse Needs to Know in Case of an Emergency

    Morningstar's Christine Benz offers tips to ready a non-financially-savvy spouse to take the reins if needed.

  • Creating a Goof-Proof Plan For Your Spouse

    Regular communication and a simple investment strategy will help your surviving spouse thrive, says advisor Stacy Francis.

Other Advice Videos