Uncovering Hidden Assets During Divorce
Divorcing couples are legally required to disclose all assets prior to dividing marital property. However, this does not always occur. The National Endowment for Financial Education states that over half of adults admit they hide money or purchases from their spouse or partner.
At Berchem Moses PC, we are familiar with the tactics that dishonest spouses use to keep property from the other spouse during a divorce proceeding. Our lawyers can help determine if your spouse is hiding assets and then use our experience and knowledge to find them.
What Do Spouses Hide?
Some spouses may be deceitful about their actual income, while others may exaggerate debt in order to avoid spousal support payments. Common types of hidden assets include, but are not limited to:
- Bank accounts
- Businesses
- Expenses
- Incomes
- Purchases
- Real estate investments
It is not uncommon for spouses to start hiding property before the divorce papers are even filed. We can help you assemble an inventory of all assets prior to any action taken.
Warning Signs
In many cases, there are warning signs that can alert you if your spouse is being less than truthful about finances or assets. One red flag is any reluctance on the part of your spouse in disclosing financial information or in sharing passwords to online accounts. Another thing to be on the lookout for is any claim that a family business is starting to have problems, or statements that property was sold to friends or family members.
If you suspect that your spouse is keeping information from you, our lawyers can conduct an investigation to uncover the deceit. This may include searching through tax returns, property records or tracking your spouse’s movements, especially if the spouse travels to other countries where banking laws are more lenient.
Helping You Regain Control
A family law matter can be tough to deal with, but we can help you regain control. Contact us at 203-783-1200 to schedule a complimentary initial consultation with our attorneys in Milford and Westport. You can also fill out our online form.