Discovering & Distributing Hidden Assets in California Divorce
If you suspect your spouse is hiding assets during your divorce, it is critical to act quickly. Hidden assets can significantly impact the outcome of property division, child support, and spousal support. Working with an experienced California family law attorney ensures that your financial future is protected and your divorce settlement is fair.
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.
Why Declaring Assets Can Be Complex
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
Property Division in California
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.
Our attorneys are skilled in navigating these complex situations and will advocate for a resolution that reflects your rightful share.
Speak With a Hidden Assets Specialist
Contact us for a confidential, introductory conversation with our Intake Specialist. We’ll talk with you about your unique family law matter, and match you with an attorney who is best suited to handle the particular issues in your case, so we can help you take the next step forward.
Speak with a Hidden Assets Specialist
Schedule a confidential, no-obligation conversation with our team. We’ll discuss your unique situation and match you with the attorney best suited to help you move forward.
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