Uncovering Hidden Assets

James Guberman is partner and founder of Guberman Advisors, an advisory firm helping clients to understand the financial consequences of the decisions they face during their lives, including divorce. James is also a Certified Financial Analyst (CFA) and Certified Divorce Financial Analyst (CDFA). He is a board member of Savvy Ladies, a nonprofit passionate about bringing financial planning education to women. He educates listeners about the nature of hidden assets - why they’re not really “hidden,” and how to uncover them.

• If you know how to read bank and brokerage account statements, most things are not hidden. The only truly hidden things are those that don’t go institutional, like cash exchanges and purchases - there’s no paper trail associated with them because hardly anyone bothers to take receipts anymore.
• Hiding an asset greatly overlaps with fraud, and as with fraud, there must be a motivation and an opportunity to do it. In divorce, that motivation is the breakdown of the relationship - one partner can see things may end, so they want to take certain things off the table to ensure they won’t have to share them.
• It’s important to not take your spouse’s word as gospel when they tell you about the value of their assets, especially if it’s a business. It’s better to talk to a business valuation expert to double check.
• Developing your financial reading skills is the critical first step to discovering hidden assets. You have to replace your partner’s skill set in financial literacy with someone you can trust, and what better person than yourself?

Resources

James Guberman on LinkedIn

Email: [email protected]

Phone: (646) 906-5194

Guberman Advisors

Stacy Francis on LinkedIn | Twitter

Email: [email protected]

FrancisFinancial.com

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