Discovering & Distributing Hidden Assets
If you suspect your spouse is trying to hide assets during your divorce process, it is imperative to contact an experienced family law attorney immediately.
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Exposing Hidden Assets
When you and your spouse pursue a divorce in the state of California, at the outset of the case, both parties are required to disclose all material facts and information regarding all assets, bank accounts, and debts. This disclosure must be truthful to the best of your ability and knowledge, and include everything from your bank accounts to your real estate assets to your intellectual property and your income. However, this does not stop some people from attempting to hide assets from their spouse, a practice that has significant consequences in family court. The penalties when hidden assets are discovered can include greater distribution to the innocent spouse and possibly even perjury charges if one is found guilty.
At Cage & Miles, our team of professionals work quickly to help you discover hidden assets, and bring to light any red flags in your ex’s property disclosure statement, while ensuring your property is divided fairly and equitably. We have been recognized as one of the premiere choices in San Diego, exemplified by our Avvo Clients’ Choice for Family Law award and being named to the list of Best Lawyers for 2021.
Declaring Assets Can Be a Complex Process
Discovering hidden assets is not always straightforward. If you suspect your spouse has hidden assets, an attorney or forensic accountant may be able to help you find any loopholes or red flags in your financial records. It’s important to bring these issues to the attention of a family law attorney right away since a statute of limitations may attach to the date you knew or should have known about a failure to disclose. Even if your divorce is already complete, if you discover a potential hidden asset or fraudulent claim made by your spouse, the issue can be rectified with the proper legal help. We may be able to help you with potentially hidden assets, including:
- Hidden or missing money
- Real estate
- Intellectual property
- Retirement accounts
- Intentionally depressed income available for support
- Business interests
Areas of Family Law
Property Division
In California, the general default rule is that all community property shall be divided equally between the two spouses. Community property is defined as all property acquired during the marriage except by gift, inheritance, or bequest. Property division can become complicated if one spouse makes separate property claims or fails to disclose certain assets or their values.
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