One of the most important steps you can take to protect yourself financially during divorce is making a complete list of your accounts. In the Divorce Money Guide, we start here for a reason. If you do not know what you have, you cannot protect it. And if you do not know what is missing, you will have a hard time proving that something is hidden.
I promise this part is not as overwhelming as it sounds. It is really just about getting everything out of your head and onto paper. When you see all of your accounts in one place, it starts to feel more manageable, and you will feel a lot more confident about the next steps.
Here is the kind of information I help you gather:
- Bank Accounts: Checking, savings, money market accounts, certificates of deposit
- Investment Accounts: Brokerage accounts, mutual funds, IRAs, 401(k) plans, pensions, and any other retirement funds
- Credit Cards: Traditional credit cards, prepaid cards, and secured cards
- Loans: Mortgages, auto loans, student loans, personal loans
Even if you think you know it all already, it is worth taking the time to write it out in detail. This list becomes the foundation for every financial conversation and negotiation you have during your divorce.
What if You Suspect Your Husband Is Hiding Money?
I hear this concern all the time. You might be thinking, “But Tracy, I do not know about all of the accounts. What if he opened something behind my back?” That is a valid question. Just remember, the point here is to start with what you do know. When you get it all on paper, you can look for gaps and start to connect the dots.
You are not expected to have a magic list of every hidden account. But I want you to be thorough and pay attention to details. The process of writing everything down often jogs your memory and brings up clues you forgot about. For example, maybe you remember that a couple of years ago you and your husband applied for a loan at Bank XYZ but did not get approved. Even though you never opened an account there, you should still write down the bank name. Later, you may want to check if he went back and opened an account on his own.
You might also remember little details that help you later. Maybe you saw a statement from an unfamiliar bank in the mail or a deposit you could not explain. Those are the breadcrumbs that can lead to big discoveries.
How to Make Your List Work for You
In the Divorce Money Guide, I give you worksheets to help you track all of this. I want you to be able to stay organized so you can make the most of the precious time you spend going over financial documents. This account list is not just busy work. It is a simple way to start getting organized and prevent things from slipping through the cracks.
Here is what I recommend you include on your list for each account:
- The name of the financial institution
- The account number
- The type of account
- Who is listed on the account
- The most recent balance you know about
- Notes about anything unusual you remember
This kind of documentation can save you hours later when your attorney or financial advisor starts asking questions. It also shows that you are prepared and paying attention, which can discourage your spouse from trying to hide things.
Why Small Clues Can Lead to Big Discoveries
In many divorces, hidden money usually does not come from one huge account you never knew about. It often shows up in small ways. A bank account opened years ago with a little extra income tucked away. A credit card with charges you never saw. A loan that was used to move cash around.
When you build your list, you create a map of where money has been and where it might have gone. That is why this step matters so much. It is not about accusing anyone. It is about shining a light on everything so you can get a fair settlement.
Ready to Start Your List?
If you are preparing for divorce or already in the process, I encourage you to take this step today. Start with the accounts you know. Make notes about anything you are unsure about. Use the Divorce Money Guide worksheet to help you stay organized and calm.
And if you want more help, I have another free resource for you. The Planning For Your Divorce Guide walks you through the most important first steps to protect your money and get prepared as you’re thinking about or starting the divorce process.
You deserve clarity. You deserve control. And you deserve to know exactly what is happening with your money. I’m here to help.
If you’re looking for (potentially) hidden money in your divorce, start making a list of the accounts and related information that you know. This will set you on the right path toward tracking down your money.
And if you’re interested in another helpful resource, we have the Planning For Your Divorce guide that walks you through some of the most important first steps toward protecting your money.
