How Spouses Try to Hide Assets in a Divorce
Oftentimes, one of the most contentious aspects of a divorce is the division of property between spouses. While California is a community property state, which means that assets are split equally, 50/50, there are times when one spouse may try to hide assets in order to walk away with a larger share of the marital estate. If you suspect that your spouse is attempting to hide assets in your divorce, our experienced and skilled Los Angeles divorce lawyer at the Law Office of Bradley S. Sandler is here to help. Call the office or contact us today to schedule a consultation of your case now.
What Types of Assets are Hidden?
Some types of assets in a divorce are easier to hide than others. Assets that have a significant paper trail are more difficult to hide, such as bank accounts, registered vehicles, and real estate. However, assets that are easily transferable, have less of a paper trail, and are generally more difficult to trace may be hidden by a spouse. Common examples include cash, gold and silver, negotiable instruments like bearer bonds, jewelry, art, and other collectibles.
How Assets are Hidden
There are many ways in which a spouse may attempt to hide assets in a California divorce. A spouse may move assets into offshore accounts or give them away to family members or friends with the understanding that they will get it back after the divorce. They may create a trust and fund it with assets they wish to hide, naming someone else as beneficiary like a child or family member but in actuality using the trust to hide assets for themselves. A spouse may also claim fake debts and pretend to sell assets in order to hide them in a divorce.
Discovering hidden assets can be even more complicated if the spouse suspected of hiding assets owns a business. They may transfer assets to the business or take money out of the business in order to devalue it in a divorce appraisal. A spouse may also delay bonuses or raises for themselves until after a divorce is finalized to minimize the amount of spousal support or child support owed based on income levels. There are many ways that a person can use a business to hide assets, and it is important to investigate these claims as soon as possible in a divorce case. To learn more about how a spouse may try and hide assets, talk to our office today.
Call or Contact Our Office Now
Starting over after a marriage ends is hard, and it is important that you walk away from a divorce with the assets you need to restart your life. If you suspect that your spouse is hiding assets in your Beverly Hills divorce, our experienced and qualified divorce attorney at the Law Office of Bradley S. Sandler are here to help you get everything that you deserve. To learn more, call or contact our office to schedule an evaluation of your case today.