Texas Edition by Carol A. Wilson
Many Clients tell me they are suspicious that their spouse is hiding money. We ask the following initial questions as we begin the analysis to thoroughly answer our Client’s questions.
Begin your own analysis with these questions:
Q: Does my spouse have a job where they are employed by someone else and do they receive a regular paycheck? Do I see the regular paycheck deposited in household bank accounts to which I have access?
A: If the answer to that question is yes, the likelihood of a spouse hiding money significantly decreases.
Q: Is my spouse self-employed, either as their primary employment or secondary employment?
A: If the answer to that question is yes, the likelihood of a spouse hiding money increases.
Q: If my spouse is self-employed, in a business where the customers frequently pay in cash, or in which the spouse cashes their customers checks rather than depositing the checks in the bank.
A: If the answer to that question is yes, the likelihood of a spouse hiding money increases
Common industries in which customers often pay with cash are restaurants, bars, valet services and vending machines. Other businesses such as hair salons, farriers, and home repair people may deal in cash and may also cash their clients checks rather than depositing them. This is not Many Clients tell me they are suspicious that their spouse is hiding money. We ask the following initial questions as we begin the analysis to thoroughly answer our Client’s questions.
to say that all people who deal in cash businesses are hiding cash. These are simply indicators of doing so.
Common indications that a person is hiding cash or receiving cash and not reporting it in their income may be found by reviewing their credit card and banking records. If they have few charge or debit transactions for groceries or gas, they may be hiding cash.
When a person says they have no money but are spending a lot of money, you can calculate what a person’s income actually is by adding up what they are spending and estimate their income.
It is entirely possible that after some investigation by someone who is trained to know what they are looking for your fears can be allayed or verified.
If indeed a spouse is hiding cash, concentrate on finding most of it. If they are particularly good at hiding, it is unlikely you will find every last dime.
Actions to take if you believe your spouse is hiding money:
- Save all documents, social media, texts, and e-mails which indicate to you that your spouse is hiding money. If necessary, make a copy and put the originals back where you found them. Store the copied documents in a safe place. I recommend that you store the documentation somewhere outside your home or on a password protected cloud storage.
- Hire a family law attorney, preferably Board Certified in Family Law by the Texas Board of Legal Specialization, and specifically ask the attorney whether they regularly hire forensic CPA’s for suspected hidden money cases; and If you think your spouse is hiding money and you would like to take action, please call us at 214-303-0142 to schedule an appointment.