Maxwell Hills | May 21, 2024 | Divorce

Concealing Assets

If you find out that your husband or wife is keeping assets secret during a divorce, it makes things even more challenging. It makes you feel upset and make the divorce even more confusing in Orange County, California. That’s why, not only is it like they are not being honest, but it also makes it hard to know what will happen with your money and things after the divorce.

If you think your spouse is hiding assets, it is important to do something about it and make sure you are looking out for yourself. In this article, we will delve into significant tips if your spouse is hiding the assets during divorce. Let’s have a look for a better understanding!

Recognizing Unusual Financial Secrecy

If your partner starts being secretive about money, such as changing passwords for no reason or avoiding talking about it, it is like a quiet warning. These unusual behaviors are not just odd; they could mean your partner is in financial matters. It is crucial to pay attention to these signs because they can make a big difference in how the divorce goes.

Addressing Inconsistencies in Financial Statements during Divorce Proceedings

When you see things not adding up in financial statements. It is important to look at these papers carefully like you’re a detective. This way, you will find anything strange that might mean someone’s hiding things. It could be things like taking out money for no reason or mysteriously spending money. It is like following clues to find the truth. You must not ignore these signs. 

Gathering Evidence in Divorce Proceeding

One good way to find proof is to write down any strange money stuff you see happening. This could be:

  • You must check bank statements and find out if there is money being spent for no reason.
  • You must keep track of money such as income and expenses and check whether it matches up.
  • You have to look at credit card papers for any weird buying or taking out money.
  • You should check the transfer of assets to family or friends.

So, if you have found as much proof as you can, it is paramount to talk to a lawyer who knows about divorces. They help you understand what you are supposed to get, and figure out all the money stuff. They also make sure everything, even the things someone tried to hide, is divided fairly.

Know Your Legal Rights

When you are getting divorced, it is crucial to know what you are allowed to do in Orange County, California. As you know, the statute says that everything you got while you were married has to be split equally between you and your partner.

Here are some important things you should know about what you can do:

  1. Full disclosure of Assets  

When you’re getting divorced, both of you have to tell the truth about everything you own. If you conceal assets, it is punishable under the law of California. As you know, it is considered a fraudulent act and penalties can be imposed. So, if your spouse is hiding the assets in Orange County, California, you can avail legal remedy against them. So, you have the right to know about the details of the assets of your spouse.

  1. Equal division OF Assets

You get the same amount of stuff and an equal share of marital assets. It does not matter who purchased them. So, you have the right to sue your partner in a court of law for the equal division of assets. If your partner is hiding the assets during divorce, you must choose the legal platform to protect your financial rights.

  1. Professional assistance from Lawyers or Accountants

If you seek professional assistance to make everything clear and transparent, it is the best thing to do. You must ask for help from experts such as lawyers or special accountants to ensure everything you own is found and counted right. This way, you can identify the assets of your partner correctly. Besides, professionals also help you to get the correct value of assets.

  1. Appeal against the Trial Court

If you are facing the trial in initial court and you are not satisfied with the court’s judgment. You have the right to file an appeal in the appellate court in California. But, you must remember, you should have legitimate grounds for it.

Consider the Role of a Divorce Attorney

You must get a lawyer when there is secret stuff going on in a divorce. A good lawyer who knows about divorces helps you understand tricky money matters. Plus, they sure you get what you are supposed to. They will help you figure out what to do, talk to the other side, and speak up for you in court. It is best to hire a lawyer who knows a lot about family rules and has helped people in situations like yours before.

Here are some good things about having a lawyer in these situations:

  1. They have Experience:

They know a lot about finding secret money. Besides, they help accountants figure out how much it is worth.

  1. They have Negotiation skills:

They can talk to the other side of the case. As you know, they have strong negotiation skills. Plus, they make sure assets are shared fairly.

  1. They provide Legal advice:

They give good advice about asset division, who gets to take care of the kids, and getting help from your partner after the divorce.

  1. They Represent You in the Court

They speak up for you in court and make sure you get your rights and interests

They Provide You Peace of Mind                                                                                                                                                                           

If you have a lawyer,  you can think about other important things while they take care of the legal aspects during the divorce. They make a plan that is right for you, such as asking the court to stop anyone from spending more money, asking for help from your partner after the divorce, or making a deal that’s good for you. 

“Uncovering Hidden Assets: Effective Strategies for Divorce Proceedings”

There are ways to find secret stuff in a divorce. One way is to ask a special accountant called a forensic accountant for help. They are good at looking for money that’s been hidden, such as houses or bank accounts overseas. Another way is to ask the court for something called a “discovery,” which is when you ask for information about your partner’s stuff in a legal way.

Here are some other things you can do:

Financial Statements

Subpoena bank and credit card statements will provide a clear view of all transactions, including hidden ones.

  1. Ask for Income Tax Returns: 

This might show money or things that were kept secret. As you know, income tax returns include all the financial matters such as income and expenses as well as assets and liabilities in the USA. That’s why, you must ask for an income tax return from your partner during divorce to clear the real image of the situation.

  1. Check Public Records:

They can show you houses, businesses, and other intangible assets of your partner. So, you can clear your doubts. 

  1. Verify overpayments: 

If your partner might give too much money to people they owe, hoping to get it back after the divorce.

  1. Consider Deferring Salary, or Bonuses

Your partner might tell their boss to wait before paying them, so it looks like they have less money. The idea is to find hidden stuff and make sure it’s shared outright in the divorce. So, it is really helpful to have experts who know all about this stuff to help.

Summing Up

If you find out your partner is hiding money and assets during a divorce, it makes you feel worried. But there are things you can do to make sure things are fair. You should collect proof, like if they start acting strange with money or suddenly start living differently. It’s also good to get help from Hills Law Group which knows about divorce matters. Besides, it is important to talk openly and share information. So, if you do these things and act quickly, you are sure your money is safe and things are fair in the divorce.