The first stage in sharing assets throughout a divorce is to compile a comprehensive financial picture of each spouse’s holdings. Every profit made during the marriage is considered marital property, which is equally shared in the event of divorce. Unless a prenuptial agreement exists, circumstances play a role in the division of assets, especially if children are present. When considering how to distribute marital property and obligations, a court may assess the benefits of both spouses’ separate property. Both spouses must reveal everything in their financial assets as part of the divorce procedure. However, one spouse may not fully disclose all of their wealth at times. One has to do the legal means to discover the hidden assets of an ex-partner.
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The Role of Law in Finding Out Hidden Marital Assets
If one has the basis in pursuing legal means to discover the hidden assets of an ex-partner, then the court will regard this and conducts a motion to search. The discovery process offers a variety of information-gathering options, which differ from jurisdiction to jurisdiction. The following are the ways to find out hidden assets.
- Attorneys and judges have the authority to order your spouse to provide particular documents containing financial information.
- In addition, the spouse must respond to questions in writing or admit to specific allegations about possible hidden assets.
- It is also allowed to request a property inspection, such as a bank vault.
- A deposition is an excellent approach to obtaining information from an untrustworthy spouse.
Perjury can be charged against anyone who refuses to answer honestly during a deposition. A discovery process is an effective approach to collecting financial information from an unwilling spouse because the court has the power to insist on compliance.
How Does A Family Law Attorney Help in the Legal Means of Asset Discovery?
Setting up trusts or “gifting” funds to those who will return them once the divorce is finalized is one of the ways that spouses without enterprises may try to hide assets. Moreover, you are what some lawyers refer to as the “out-spouse” if your husband managed the bookkeeping throughout your marriage and you engaged little to no role in tracking funds. There are many ways that an ex-spouse can hide the facts about how much money they make. If you have the feeling that there is something hidden from your ex-spouse, a family lawyer with experience in asset search and investigation. They can assist you in seeking legal means to discover the hidden assets of an ex-partner. It’s a good idea to talk to an attorney to make sure you’re addressing the correct questions and coming up with an approach for finding out if there is truth in your claims.
Goldman and Associates Law Firm can help you with your marital cases and other family-related conflicts. The presence of expert and experienced lawyers would mean quality service. They will assist you in every step and ensure that you have the most beneficial outcome possible. You can call us during office hours or book an appointment with us.