Hiding Assets During Divorce

Many primary terms of divorce hinge on financial matters, and if your spouse is hiding assets, it can seriously skew your terms and leave you at a significant disadvantage. Many people are blindsided by such efforts because they believe that, although they are parting ways, their spouses would not stoop to such depths. The truth is, however, that the stress of divorce can sometimes push otherwise upstanding people to behave very badly, and getting to the bottom of the matter is critical. Fortunately, a dedicated California divorce attorney with considerable experience successfully handling challenging cases like yours can help. 

Divorce Terms that Are Predicated on Finances

The following divorce terms are based directly on your family finances:

• The division of marital property
• Child support
• Alimony 

If your spouse is hiding assets, any one of these can be seriously affected, and your financial rights can hang in the balance. 

Factors that Make Hiding Assets More Difficult to Detect

If you and your spouse both work and your primary investments are your home and your retirement accounts, it can be very difficult for your spouse to hide assets. If any of the following apply, however, it is a different matter:

• You own a business 
• You have high assets
• Your financials are generally complicated
• You have a hefty financial portfolio
• Your spouse has joint ownership in a property with someone else
• Your spouse is far more involved in your marital financials than you are

In situations like those outlined above, an unscrupulous spouse has far more opportunities to hide assets, which makes having professional legal counsel on your side from the outset paramount. 

Various Forms of Hiding Assets

The term hiding assets refers to far more than simply squirreling away funds in a hidden shoebox. In fact, there are as many ways to dissipate marital assets as there are divorces, and your divorcing spouse may get quite creative in the process. Consider all the following common examples:

• A primary means of hiding assets is undervaluing a property from the start.
• Spending lavishly prior to divorce is another form of hiding assets because it is a means of spending down marital property.
• Your spouse may give away assets as a means of stockpiling them for themself.  
• Your spouse may have begun hiding assets farther back than you realize and may have assets and properties in names other than their own. 
• Your spouse may attempt to claim that certain assets are on loan – such as from family members – and, as a result, are not marital property.
• If you own a business, your spouse may cook the books in order to devalue it.

In the end, anything short of total financial transparency can amount to a form of hiding assets that the court will take a dim view of.

Consult with an Experienced California Divorce Attorney Today

The focused divorce attorneys at Miranda, Magden & Miranda, LLP – proudly serving both Monterey and Salinas – appreciate the gravity of asset hiding and have the experience and keen legal insight to help. Learn more by contacting us today.