Divorce is a complicated and often painful process, and unfortunately, at times, it can bring the worst out of people. One example of this is when a spouse decides they want to try to hide assets from the property distribution process, as courts consider all marital assets to be community property here in California, which means each spouse is entitled to 50 percent of all community property. If you suspect that your spouse is hiding assets from your divorce, you should read on and contact an experienced Los Angeles divorce attorney from our firm. Here are some of the questions you may have:
What are some signs that my spouse is hiding assets from our divorce?
There are several signs to look out for that may indicate your spouse is hiding assets. Just some of the most common ways in which spouses will try to conceal marital assets include holding off on bonuses, only to collect them after the divorce, so they don’t appear as marital assets during the process, overpaying the IRS one year, only to get reimbursed the following year, and even giving money to friends or relatives for them to store until the divorce is finalized. If you suspect your spouse is hiding assets for any other reason, however, ensure you mention this to your attorney.
What should I do if I think my spouse is hiding assets from our divorce?
If you think your spouse is hiding assets from your divorce, the most important thing you can do is retain competent legal representation that knows how to hold your spouse accountable. To start, we can use forensic accountants and other professionals to trace the assets. If we can prove your spouse has hidden marital assets in some way, he or she will likely face a wide range of penalties, including fines or sanctions placed against him or her. Additionally, in most cases, when we can prove a spouse is concealing assets from a divorce, it results in the other spouse getting a more favorable divorce agreement. Finally, in cases where we find an individual has lied about marital assets while under oath, they may even be found guilty of perjury, which can result in criminal charges. The bottom line, however, is that if you think your spouse is being dishonest and misrepresenting marital property in any way, your best line of defense is a competent family law attorney who can fight for the best outcome possible on your behalf.
Contact our experienced Los Angeles firm
For the qualified, dedicated legal representation you and your family deserve and need through any family law or divorce matter, contact Zitser Family Law Group, APC today.