Divorce involves significant financial implications for both spouses. Each of them will need to adjust to living separately, and divorce often entails extensive financial orders pertaining to child support and alimony. Property division can also have significant long-term economic effects on both spouses. While it’s natural for someone to want to protect themselves financially as much as possible in divorce, taking unethical steps to do so can lead to criminal penalties.
A spouse may attempt to hide assets by creating hidden accounts and not disclosing them as part of the financial disclosure process. They may also ask their employer to withhold bonuses or commission payments until after their divorce is finalized, so they aren’t considered marital property. Some give out loans to friends and family with the intent of collecting after they complete their divorces, and some use offshore investment accounts to hide their assets.
If you suspect that your spouse has not fully disclosed their financial details, it’s important to consult your Charlotte hidden assets lawyer as soon as possible. They will know the most effective ways to investigate the issue, such as consulting a forensic accountant for a more thorough review of all your and your spouse’s provided financial records. They can also assist in proving whether your spouse may have intentionally wasted any marital assets.
Financial disclosure is ordered by the court as part of divorce proceedings, and refusing to provide a complete and accurate financial disclosure would be grounds for facing contempt of court. The spouse who has done this may be held responsible for any additional legal fees the other spouse incurs in uncovering their actions, and the court is unlikely to look favorably toward them when determining other aspects of the divorce.
Plumides, Romano & Johnson, PC, can provide comprehensive legal representation in the most complex divorce cases. We understand that divorce is an intensely emotional issue, and property division can be one of the most contentious aspects of a divorce. If you believe your spouse has hidden assets, we can help you expose the truth of the matter.
