When spouses go through a divorce, there are many different matters that must be addressed. One of the most notable is the division of assets between both parties. This is done through the process of equitable distribution which divides assets based on what is fair. When facing these situations, spouses are often afraid of losing certain assets. It is because of this that they may be tempted to hide them. However, it is irresponsible and never a good idea to do so. If you believe your spouse is hiding assets, continue reading below and contact an experienced New York divorce attorney for assistance with your case.
How Can Assets be Hidden?
In divorce cases, there are honest and dishonest spouses. It is because of this that it is not always best practice to take what your spouse tells you at face value. This is due to the fact that there may be existing assets that you are unaware of. The following are different ways a person can hide assets during a divorce:
- Overpaying on taxes so they can get the money bak in a refund the following year
- Asking an employer to delay a promotion or raise until after the divorce
- Delaying the receipt of a large commission from work
- Transferring assets to a friend or a separate bank account
How Can I Discover Hidden Assets?
When spouses hide assets from one another in a divorce, it can be difficult to have a full understanding of the marital assets that are present in the case. That is why there are ways to uncover these missing assets. In certain divorce cases, it can be beneficial to retain the services of outside experts from various fields. In the event of missing assets, this can include a forensic accountant. The job of a forensic accountant is to locate assets that a spouse believes are missing in their divorce case. This can be done by monitoring the transfers and sales of a spouse to track where their money is going to uncover anything unusual. This may allow you to discover assets you may not have even known about.
Contact our Firm
Matters of divorce and family law should be navigated with the guidance of an experienced attorney. If you need strong legal representation regarding matters of divorce, family law, and estate law, contact the Law Offices of Susan A. Kassel, P.C. to schedule a consultation today.