Hidden Assets in Divorce (Not BK)

[Dirk Squarejaw]

I've been divorced since May 2007. My wife and I filed divorce ourselves, did the division of debt, etc. and no lawyers were involved. Now I think I know why.

While I was getting my payoff amount for the dealer when I was trading my old car off before BK so that I have a reliable vehicle for 5yrs, I found out that my EX also has a $70k CD at the bank where my car was financed which I never knew about. I believe her mother's name may also be on the CD, but I am not sure (not sure if that is a possibility ???)

We had kept most of our finances seperate during our marriage and didn't have kids. She gave me the house, 2nd mortgage, a big MBNA (now BOA) loan, and my personal debt that I brought into the marriage. She took her small personal debts, car, and $70k and moved away with her BF that she had met at work and ruined our marriage over.

I have heard of people finding assets post-divorce and going after it. However, since we didn't have lawyers in the first place, I'm wondering if I'm screwed or if it would even be worth my time or if the lawyer fees would even make the end result worth the effort.

[woeisme]

Do you think the money was part of the marital estate? (i.e., did she earn it while you were married, and hid her high salary in some way?) It seems more likely to me that if this money is also in her mother's name, it came from her family in some way, maybe a death in the family (grandparent, father, rich uncle?). She might have had it long before she met you, or even got it after the divorce, so it's hard to say if you have any claim to it at all. And with her mother named on the CD, seems likely to me that it's probably her mother's money, she just put her daughter name on it too so that it would go to her if something happens to Mom. I guess I'm just thinking that if you never noticed any evidence that your wife was stashing her salary away while you were married, it seems unlikely that you would have much standing to it, but who knows?

[MomIcantFindmy]

Whatever bank told you about your ex's CD could be in serious trouble. If you go after it or mention it to her. She could go after the bank. Since you are no longer married, her bank account including her CD are her private financial information.

[danaf]

Why would you go after something that wasn't yours - something you & she didn't earn during the marriage? IMHO - it would be a waste of your time.

[robivi3]

Damned... Marriage would be a loose term under those conditions.

[One Half Full]

I always thought it depended on whether it was an asset that was hers before the marriage. If something belongs to someone pre-marriage, then there is no "sharing." I think also with personal gifts from parents or things like wills, it is the recipients decision to share or not. Haven't there been lottery winners who have filed for divorce rather than shared their winnings?