Do you suspect your spouse has hidden assets during your Louisville divorce? Do you believe there are hidden bank accounts, cash, investments or businesses but have no idea where to look or how to find out?
When a divorce is filed in Louisville both former spouses are ordered to complete a thorough, full and honest set of disclosures regarding all assets and debts. The purpose of these mandatory disclosures (and the weight of the responsibility to honestly and completely fill them out) is based upon the need for the Court to equally divide the marital property of the marriage.
When a spouse knows a divorce is imminent, they may attempt to convert cash or other assets into property or some other conveyance you may tend to overlook. They might take a loan against a retirement account or withdraw some amount from a business account or other source to purchase a valuable or collectible asset. They may create a false loan or obligation to a friend or family member and “pay” off this bogus debt in order to move money to someone they trust until after the divorce is completed.
This is especially concerning when your spouse owns a business. Many Kentucky spouses have attempted to convert money which should have been disbursed as income to the marital or funnel other assets into separate entities or accounts which are harder to trace.
This is often an issue of control or an attempt to protect or hide some activity. There are as many signs a spouse has hidden assets during your Louisville divorce or undervalued assets as there are people under the Kentucky sun. However, it is unlawful to do so and our courts take a harsh tact when dealing with a former spouse who is attempting to secret assets or cheat the marital out of it’s fair share of the equity of an asset.
If you think your spouse has hidden assets during your Louisville divorce we invite you to review the strong recommendations of our former clients and contact us or call 502-584-1108 to schedule an appointment with one of our experienced divorce and family law attorneys. Our proven, experienced divorce attorneys have extensive strategies to forensically trace assets and accounts, verify valuations and identify secreted money or assets as well as marital property which was inappropriately diverted.
