Is Your Spouse Hiding Assets?
In a divorce case, California law requires that spouses divide all community property equally. This means that absent a valid prenuptial agreement, you are entitled to half of the total property and assets you acquired during your marriage. While this seems like a fairly straightforward requirement, many spouses might try to conceal assets or engage in other deceptive tactics to try to keep more than their fair share in a divorce.
There are different ways your spouse might try to hide assets in your divorce, such as:
- Failing to disclose certain accounts or property
- Devaluing property or understating asset values
- Understating or delaying income
- Making large purchases
- Giving away assets to others until after the divorce
- Moving assets to secret accounts
Fair divorce outcomes are dependent on open and honest disclosures regarding income, property, and assets by both spouses. There are signs your attorney can recognize that might lead them to suspect your spouse might be trying to hide assets.
When you report asset concealment to the court, there can be different consequences for your spouse. The court may order your spouse to provide full disclosure, might request objective appraisals of certain property, and more. The judge might award you a greater portion of the property and/or payment of your attorney’s fees if your spouse hid assets. This is an important matter for your attorney to review.
Contact a Divorce Lawyer in California for the Assistance You Need
While you might not expect your spouse to try to conceal assets from you, this happens more than you might imagine. The California divorce attorneys at Furubotten Law, APC, are ready to help, no matter what the circumstances of your divorce might be. Contact us to schedule a consultation today. We have offices conveniently located in Huntington Beach, Long Beach, Manhattan Beach, and Murrieta, and we are ready to help.