How Can I Determine if My Spouse is Hiding Assets During Our California Divorce?
At Zwierzchowski & Nguyen, our divorce attorneys in Long Beach know that some spouses consider the end of their marriages a free for all when it comes to who gets what.
No matter which side of the divorce you are on, neither party has the right to try and avoid equitably dividing their assets by hiding them from their spouse.
Our Certified Family Mediators in Los Angeles and Orange County encourage all spouses — before they are in a position to file for or respond to a divorce petition — to investigate and understand their overall marital finances, so there are no surprises later (even if you do not get divorced).
Unfortunately, many California residents will go to great lengths to keep from splitting their assets equitably. And if they plan to hide them, there are many ways to uncover their existence by identifying the most common warning signs.
What are the Most Common Warning Signs that a Spouse is Hiding Assets?
Our experienced divorce attorneys in Long Beach understand that both spouses may not be aware of each asset they own separately or together.
It is not uncommon for one spouse to have a credit card or physical property the other does not know about. And if one spouse is in control of the marital finances, and is not being forthcoming, it may be difficult to identify all the accounts without the help of a family lawyer.
While these accounts are easily identified with the help of a skilled divorce attorney, there are red flags you should be aware of, which may include one spouse:
- Converting cash into traveler’s checks
- Paying close friends or family members for non-existent services and/or debts that will serve as a savings account during the divorce
- Not reporting or underreporting income on tax returns and financial statements
- Involving an employer to delay raises, bonuses, or contract awards until after the divorce is final
- Skimming cash from a business he or she owns
- Investing in savings bonds
- Undervaluing artwork, antiques, or other property
- Gifting rent, college tuition, or payments to a partner
- Setting up an account under a child or new partner’s Social Security number
If your spouse does not fully disclose all retirement, savings, or other financial accounts or assets — whether you know they exist or not — he or she is breaking the law.
Unfortunately, it does not stop people from doing it.
If you believe your spouse is hiding assets to avoid equitably dividing them during your divorce, contact our experienced family law attorneys in Long Beach today for help identifying and assessing the missing accounts or assets, so they can be included in the dissolution.
Our family law attorneys in Long Beach are available today to discuss your marital finances and any inconsistencies you believe requires a forensic financial assessment, so you can make informed decisions about the direction of your case by contacting Zwierzchowski & Nguyen at 562-426-6522 to learn more about your legal options, so you can begin planning your financial future with confidence.