Are you concerned about a former spouse’s attempts to conceal or hide marital assets? How do you track down and find hidden money and assets in a Louisville divorce?
Several signs can trigger that inner sense, that gut-level feeling that something isn’t right or money is missing. In some cases, a former spouse begins to spend money to improve their lifestyle in ways they were unable to during the marriage. In other instances, a former spouse wastes money or runs up credit cards attempting to buy things or pursue cash advances in the months leading up to or during your divorce.
Often, our client may become concerned about a few account balances that have recently changed or aren’t where they are supposed to be. Was there some strategy your former spouse used to employ to hide money or assets for a rainy day? Is it possible to trace unlawful actions or find hidden money and assets during your Louisville divorce?
In Kentucky, it is against the law to conceal money or assets from a former spouse during the divorce process. Each spouse owes the other an enforceable “fiduciary duty” until the date the divorce is completed. A fiduciary duty requires your former spouse (and you as well) to act in each other’s best interests, especially when it comes to money or other issues and assets associated with your divorce. If a former spouse attempts to conceal money or assets or misrepresent the valuation of any asset during financial disclosures, the Court has the power to apply substantial financial sanctions. The actions may even rise to the level of criminal charges.
The divorce and family law attorneys at Dodd & Dodd work closely with our clients to identify and locate hidden money and assets during a Louisville divorce. We often bring in expert testimony from a forensic accountant in these cases. These special investigators possess the knowledge, tools, experience, and wisdom to identify potentially suspect behaviors or attempts to conceal or misrepresent money or the valuation of any asset. Our attorneys work closely with our team to help identify and locate missing money and assets, as well as uncover unusual behaviors or discrepancies in marital accounts, financial reports, tax returns, the books of a privately held company, or even secreted cash.
Your Dodd & Dodd attorneys have multiple strategies to ensure a complete, transparent, and accurate disclosure of all debts and assets, as well as an equitable distribution of marital property during your divorce.
We invite you to review the strong recommendations of our former clients and the legal industry and contact Dodd & Dodd or call 502-584-1108 to schedule an appointment with one of our attorneys.
