Protecting Your Rights Through a Personalized Approach

The First Step of Asset Division Is Identifying Assets

In order to effectively divide assets, a couple must first be made aware of the full extent of the marital property they and their soon-to-be-ex-spouse share, in addition to their respective individual property. If you suspect that there are additional debts or properties that your spouse is neglecting to mention, it’s important to contact our attorneys immediately. From there, the appropriate approach to uncovering hidden assets will vary based on your suspicions.

Monitoring Bank Accounts

As you and your spouse near divorce, it’s certain you are both considering how best to move forward with your individual lives. Part of this endeavor could include opening separate bank accounts.

While doing so is a recommended action that can prepare each of you for life on your own, preemptively using marital funds to grow a separate account without proper disclosure is cause for concern.

During your divorce, you should closely monitor your bank statements for unusual transfers to separate accounts. The transfers may happen over several smaller transactions so as to not raise any suspicion when looking at the overall balance. But these amounts add up and can rob you of assets that you are equally entitled to.

Discovery

If you are suspicious about your spouse’s honesty, we can serve them with discovery. By doing so, we formally require them to disclose all assets. Property can be discovered by:

• Demanding documents, such as account records, financial records, loan statements, and tax returns
• Sending interrogatories, where you can request written answers to questions you have
• Demanding inspection, where you can ask that areas you suspect could be hiding assets be evaluated, such as a private safe
• Oral deposition, where your spouse will answer questions under an oath where they swear to tell the truth

It’s important to note that, beyond being a bother, hiding assets is illegal and can end with legal repercussions. Uncooperative spouses could have a sanction imposed on them, which could include fines and even a judgement.

What About Assets Discovered After Divorce Is Finalized?

Spouses who were successful in their moves to hide assets in a divorce may later be exposed for having hidden their property. While actions are more complicated after the separation is finalized, it is not impossible to seek justice.

Mitchell & West LLC is available to represent you and fight for the truth. If you suspect that your spouse is attempting to cheat you out of your deserved share of marital property, contact our attorneys immediately at (305) 783-3301.