Is Your Spouse Hiding Assets in Your California Divorce?
Ideally, even if two people no longer wish to remain married, they can still work in good faith with each other to end their marriage. Unfortunately, this is not always the case. Divorce can bring out the worst in nice people, and some people aren’t very nice to start with! People are especially prone to do unethical things when marriages fall apart and assets are at stake. It’s unfortunate that these things happen, but without a doubt they do. Hiding assets is one of the oldest divorce “dirty tricks” in the book. Often, the process of hiding assets begins long before the actual divorce, as one spouse begins to hide things with the intention of starting the divorce process once they have finished concealing assets.
There are countless ways for one spouse to hide assets. They may conceal large amounts of cash within a safe deposit box. They may transfer assets or property to friends or family as a gift or selling them below market value, with the intention of the other party holding them until after the divorce is final. People have been known to use offshore bank accounts, shell corporations, and all manner of financial trickery to hide assets.
Another possible way assets may be hidden is in cryptocurrency such as BitCoin. Given that these currencies were developed with intention of preserving anonymity, they are a natural avenue for someone who is looking to maliciously conceal assets.
If one spouse has remained largely in the dark while the other spouse has handled the accounts and the budget during the marriage, they may have little or no idea what is owned jointly. This spouse is especially vulnerable to being deprived of an equitable distribution of property because of hidden assets.
You will need an attorney who is an experienced enough in litigation to help you use the process to help uncover any hidden assets. Our firm is prepared and experienced to help people who feel that assets are being hidden from them.
Do you have a divorce or family law question?
Call our office today. John A. Bledsoe is Orange County’s premier divorce attorney and a certified family law specialist. Our firm offers a confidential initial case evaluation. Call (949) 363-5551 to learn more.
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