Atlanta Hidden Asset Attorneys
Ushering You Toward an Equitable Outcome in Your Case
The outcome of your property division case could impact your life for years or decades, which is why ensuring you receive an equitable outcome is so important. Unfortunately, individuals sometimes try to hide assets during property division, preventing the other party from obtaining the judgement they deserve.
We will work with you to defend your rights throughout the property division process, helping identify and address any hidden assets that could impact your case.
What Are Hidden Assets During Property Division?
During a divorce case, both parties must provide the court with a complete inventory of their separate and marital assets and liabilities. Couples must also agree to abide by certain practices, such as refraining from the destruction of any property that may be divided by the court.
However, often times individuals will attempt to hide assets, omitting them from the inventory they provide to the court. This is, in fact, quite common.
Some common ways individuals hide assets include:
- Failing to document certain hard-to-trace assets, such as gifts their spouse may not know about;
- Pre-paying or overpaying tax liabilities;
- Purchasing easily hidden assets such as wine or artwork, and then hiding them from their spouse;
- Having an employer defer a raise to keep their salary artificially low pre-divorce;
- If the party owns a business, channeling sales or revenue through an employee or family member to make the business appear less profitable;
- Opening a bank account under a false name or their child's name, and hiding income in that account;
- Claiming payments to another party as nonexistent debt repayments that they then receive back post-divorce.
What Can I Do to Prevent The Party from Hiding Assets During a Divorce?
If you're worried the party may try and hide assets during a divorce, there are a few measures you can take to protect your property:
- Take an inventory of all assets and liabilities you know of before filing for divorce. At the very least, you should catalog all the property you know is valuable or think your soon-to-be-ex may want to hide. Keep documentation verifying your stake in this property, and consider keeping those files in a safety deposit box the other party won't have access to.
- Working with an expert who can help you address this situation. We can put you in contact with a financial professional such as a forensic accountant to analyze financial activity to help uncover wrongdoing by your spouse.
- Consider transferring money into a separate bank account. Prior to taking such action, you should speak with an experienced divorce lawyer, but if you have reason to believe your money could be in trouble, opening a separate bank account may help you protect your livelihood.
The outcome of your property division dispute can have a huge impact on your financial wellbeing. If you believe another party is hiding assets, we will work with you to uncover any misdeeds and obtain the appropriate compensation. This may include hiring professionals like forensic accountants who can help us more easily identify when a party hides assets.