Do you think your former spouse is hiding money or assets in your Louisville divorce? Was there some sort of behavior such as lying or deception, betrayal or even a typical effort to cheat on taxes which makes you think your former spouse isn’t being fully truthful?
Former spouses owe a fiduciary duty to one another until the moment the divorce is final. This is the legal obligation to act in the other’s best interests in all matters, especially financial issues. The instructions which accompanied your divorce papers also included instructions requiring you, under the laws of Kentucky and by the order of the Court, to make a full, complete, accurate and transparent disclosure of all marital assets and liabilities.
This means a complete accounting of every dollar, every account, every investment, every asset, every debt, every credit card and every retirement vehicle or account.
What happens if your former spouse is hiding money and assets from you and the Court? The Court takes a dim view of a spouse who is inept, dishonest, or out and out lying in the financial disclosures and all information they provide to their former spouse as well as the Court. Judges in these cases have levied heavy financial sanctions and penalties as punishments for attempts to hide money, accounts or the true value of assets.
In one famous example, the wife had a winning lottery ticket she had hidden from the husband, worth several million dollars. The wife did not disclose the lottery ticket, trying to hide it to keep the money for herself. When the Judge found out about the hidden lottery ticket the Court awarded it entirely to the husband instead of dividing it equally between the two parties.
The penalties for hiding money or assets in a divorce can be quite severe.
Can you prove your former spouse is hiding money or assets? Yes. Our experienced divorce and family law attorneys work with forensic accounting experts to find hidden accounts, missing cash and camouflaged assets. Forensic accountants look for suspicious financial signs and activities. Tax returns have a way of revealing hidden assets. These experts work to find unexplainable transactions, disbursements or wire transfers to unknown sources as well as business income which belies the earnings brought into marital accounts in recent months or years.
If you think your former spouse is hiding money or assets in your divorce we can help to expose it and seek appropriate sanctions and relief.
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.
