What should you do if you suspect your spouse is hiding assets?
June 20, 2019
On behalf of The Law Offices of Steven M. Bishop, Attorney at Law, A California Corporation on Thursday, June 20, 2019.
Divorce is a financially complex process, even when the two parties are completely amicable and committed to resolving divorce disputes out of court. This process can be even more difficult when there is conflict over how to divide marital assets and money. This is a typical occurrence in divorces where there is a lot of money and valuable property on the line.
In high asset divorces, it is possible that one spouse could attempt to hide assets from the other. Sometimes, this is done out of revenge or the desire to keep more assets for himself or herself. Regardless of why this is happening, if you think your spouse is going to try to hide assets or is being dishonest in the divorce proceedings, you can fight back. There are steps you can take to locate assets and secure the information you need for a fair financial order.
Hide and seek in your divorce
It’s not always easy to know if your spouse is actually hiding assets or if you just suspect there is a problem. You have the right to a fair share of marital property and a reasonable share of any marital debt, and this may mean you have to look carefully at certain things and take specific steps to ensure that happens. Some things you can do when you suspect hidden assets include:
Carefully review all disclosures and financial documents – In a divorce, both sides must disclose financial information, such as financial records, bank statements and more.
Seek an involuntary disclosure – If there is a problem with the disclosures that your spouse gave you, you can request involuntary disclosures. This would compel a person to respond honestly with the right information.
Request a deposition – If necessary, your attorney can seek to have your spouse submit to a deposition. This means he or she would have to answer questions under oath.
Hidden bank accounts are some of the most common ways that a spouse may attempt to keep you from getting your rightful share of marital property. Hiding assets during a divorce is unacceptable, and you may want to speak to a California attorney about how you can protect your rights.
Your financial future is on the line in a divorce. It’s smart to be thoughtful and careful about the choices you make, as well as carefully reviewing all financial information your spouse gives you. With guidance, you can fight for final order that allows you to have stability and security for years to come.