Hidden Assets Lawyers in Santa Ana Helping You Divide Marital Property Equally
During a divorce, you and your spouse will need to divide all marital property equally. This can include bank accounts, real estate property, investment accounts, and more. During the divorce, both parties are obligated to reveal any assets under their control so that they can be split equally. Unfortunately, some individuals may attempt to hide their assets from the law to avoid dividing marital property.
Hiding assets often involves lying under oath or falsifying information and documents. In most cases, the process of hiding assets is illegal and could get your spouse into trouble with the law. It is essential to consult with an experienced attorney if your spouse is attempting to misrepresent marital property during your divorce proceedings.
If you believe your spouse has hidden assets that they are not disclosing during a divorce, contact Sarieh Law Offices, ALC today. Our team can assist you in tracking down and exposing these assets to ensure you get an equal distribution of marital property during your divorce. The legal process for uncovering assets can be complex, so having an experienced attorney on your side is essential. Call us today at 714-694-7723 to learn how we can help you.
What is a Community Property State?
A community property state means that any property acquired during the course of the marriage is assumed to be owned by both spouses. Because California is a community property state, the court will attempt to divide marital assets equally between both parties. Because some spouses may feel ownership over certain assets that were acquired during the marriage, this equal distribution of assets can cause turmoil during negotiations. Some individuals may attempt to hide certain assets to avoid losing ownership of them.
Not every state is a community property state. In other states, courts will attempt to divide marital assets equitably rather than equally. This means that if one spouse has fewer financial resources than the other, they may be entitled to a more significant percentage of the assets in question. States use their own guidelines to calculate what is equitable and fair, typically looking at income, finances, and earning potential to reach a verdict. In California, these variables generally are not considered when splitting assets.
How is Property Categorized During Divorce?
Before property can be divided, it must be categorized as either separate property or marital property. Separate property is any property that was obtained before the marriage or property that is individually owned, like an inheritance. Marital property is any property that was acquired by the couple during the marriage, including debt. This is also sometimes called community property.
Generally, separate property will not be divided during divorce since it is not considered community property. Separate property can also be property obtained after separation. However, separate property will be considered community property if one spouse gives it to the other.
How Could an Individual Hide Assets?
While it might be difficult to do so, there are ways in which an individual can hide their assets and even their property.
An individual may hide assets in the following ways:
- Opening new bank accounts or investment accounts without your knowledge
- Falsifying income statements
- Falsifying debt
- Hiding assets or bank accounts offshore
- Undervaluing antiques, collectibles, or other property
- Hiding cash in traveler’s checks
- Transferring ownership to another party
- Overpaying the IRS
- Hiding assets in a safe deposit box
- Creating accounts under a child’s name
Contact our team today if you believe that your spouse is hiding or attempting to misrepresent assets. We will help you uncover those hidden assets and expose them to the court to get the percentage you deserve during the divorce.
How Can a Lawyer Help Uncover Hidden Assets?
Hiding assets during a divorce involves falsifying documents and lying under oath, which is illegal. If your spouse is hiding assets, a lawyer on our team can help you uncover those assets legally. Our team of attorneys can use discovery tools to gain information about hidden assets.
Discovery tools include:
- Request for production: asking the other party to produce documents or items relevant to the case.
- Interrogatories: written questions that must be answered under oath.
- Depositions: asking parties or witnesses questions under oath.
- Document requests: requesting documents like bank statements, tax returns, and other financial records.
- Subpoenas: compelling individuals or organizations to provide sworn testimony.
With these processes, we will likely be able to uncover those hidden assets and prove in court that your spouse was attempting to hide them.
Acting quickly is essential in the case of hidden assets. The less time your spouse has to prepare, the more likely it is that our team can uncover those assets that are rightfully yours. We can consult with forensic accountants and investigators to evaluate bank accounts, real estate, stocks, bonds, business revenues, foreign bank accounts, overseas assets, and more.
Do I Need a Divorce Lawyer?
The divorce process can be a tumultuous and frustrating experience. In California, both parties in a divorce are entitled to equal distribution of marital assets. If you believe that your spouse is hiding assets from you, you deserve to uncover those assets to ensure you get your rightful property during a divorce.
Hiring an attorney is essential if you believe your spouse is lying under oath or falsifying documents. Proving that your spouse is hiding assets in court can be challenging, especially if you do not have prior legal experience. Our team at Sarieh Law Offices, ALC, can assist you by using our experience to request documents and under-oath statements to prove that your spouse is hiding assets. For a free consultation, call us today at 714-694-7723.