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Fighting for financial interests when one spouse is hiding assets

| Oct 26, 2020 | divorce

A key to financial security after divorce is securing the appropriate share of community assets and debts. This is impossible if both parties are not honest in the financial disclosure stage of the divorce process. If one spouse is hiding assets, it can lead to a complex and messy process where the other will have to fight for his or her rightful portion of money and assets.

Hidden cash and new, secret bank accounts are common ways for a spouse to hide assets in a divorce. If a California spouse suspects hidden assets will be a problem, there are steps that can help identify what is missing. The first step is to gather all financial documentation and carefully review everything. It is also important to formally request all pertinent financial documents from the other party as part of the disclosure.

After reviewing documents, it may then be apparent that assets are missing. If the spouse refuses to cooperate, the other party can subpoena documents that may provide the information necessary to identify and value the missing assets. In some cases, it is possible to depose the spouse hiding assets in order to compel him or her under oath to answer questions.

Hiding assets is unfair, and it can make the complex process of divorce even more difficult. If a California spouse is facing the prospect of divorce, there is benefit in working with an experienced attorney who can assist with difficult property division concerns. With the right help, it is possible to pursue terms that are comprehensive and fair for both parties.