What does it take to uncover hidden assets in a Louisville divorce? Are you concerned that your former spouse may be attempting to hide money or assets or undervalue substantial assets like a business or collection? How can the divorce and family law attorneys at Dodd & Dodd help to track down hidden money, accounts and attempts to conceal business income or valuation?
How were the finances handled during the marriage? Was one of you primarily responsible for the budget, or did you share equally in the responsibility of paying bills and investing savings? A divorce is not in and of itself a reason to stop trusting your former spouse. In fact, the law specifies the powerful legal duty, known as a fiduciary duty, which each spouse owes the other until the date the divorce is completed. Generally speaking, this duty requires each of you to be transparent, accurate and forthcoming in all financial matters and to continue to act with the other’s best interests in mind.
However, if your former spouse tended to be a bit dishonest at times that may genuinely apply to financial matters in the divorce. If you suspect your former spouse is hiding money or accounts or undermining their business to lower its valuation what does it take to uncover hidden assets in a Louisville divorce or prove inappropriate valuation or disbursal of marital assets?
If you notice a pattern of withdrawals over a period of time you have a right to understand what is going on. This applies to credit cards, bank balances, investment accounts or any other marital financial asset. One of the most telling strategies is to calmly ask them “what happened to this money, or in this account?” If your partner becomes defensive, angry, or confrontational it’s usually a valid sign the issue requires looking into.
The divorce and family law attorneys at Dodd & Dodd have unfortunately witnessed almost every type of scheme, ploy or tactic over our decades of practice. Forensic accounting experts are able to comb through credit account, bank account and business financial statements, accompanying tax records and other financial and business records to identify suspicious behavior as well as hidden monies and accounts.
The Court takes an especially dim view on those who attempt to manipulate the numbers, hide assets and money or otherwise be less than truthful on financial disclosures. The financial consequences can be substantial. A spouse who tried to hide a winning lottery ticket had to give all the winnings to the other spouse. A business owner who was manipulating the books and hiding income was ordered to surrender the business entirely to their spouse.
If you need help to uncover hidden assets in a 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.
