Hidden Assets In A Divorce Cause Problems

Nobody gets into a marriage thinking that it will end. However, there are times when separation is the best thing for both parties. When that happens, you may discover that your spouse is hiding assets during the divorce proceeding. If you suspect this is the case, you should seek legal assistance as soon as possible.

At the Law Offices of Stephanie L. Mahdavi, you can count on having someone by your side who will fight to uncover the truth, an advocate that will ensure you are treated fairly. When you need a Westlake Village high asset divorce attorney, call us today.

Why Would Someone Hide Assets?

California is a community property state. This means that all property acquired during a marriage is owned equally by both spouses. This can lead to problems during a divorce, as one or both parties may attempt to hide some assets from the other party. This may seem like a tough task to accomplish, but it happens more often than people realize.

Why would one party try to hide assets?

1. They disagree with how much they will have to split with the other party. Since all property will be split equally, one spouse may feel that they are entitled to more if they think they have earned it.
2. They think the other spouse is hiding assets. It could be that neither spouse trusts one another and they are both hiding assets.
3. To lower their child support or alimony payments. By devaluing their earnings and assets, they may be trying to ensure they pay less out in eventual support payments.
4. They just do not get along with the other spouse and want to deny them the ability to enjoy many of the assets.

Where To Look

Regardless of a person’s reasons for hiding assets, it is illegal. If one spouse believes that the other spouse is hiding assets, they can take steps to discover the deception. An attorney will be able to use a process known as discovery to:

• Demand documents that would disclose financial records. This can include tax returns, loan applications, and records from banks.
• Inspect any safe deposit boxes.
• Force your spouse to testify under oath.

Discovery is the best way to gain access to the information your spouse is withholding because the court can compel compliance. If a spouse lies under oath, they could be charged with perjury.

What We Can Do To Help

We know that going through a divorce is never easy. The process of dividing assets can be incredibly complex. If a spouse is intentionally hiding assets, then the situation can become much more complicated. For those with a significant amount of property and assets, it is important that you have an attorney helping you through the proceedings. At the Law Offices of Stephanie L. Mahdavi, you can count on having a qualified Westlake Village high asset divorce attorney by your side. You can contact us for a consultation by clicking here or calling 805-379-4550.