There are several parts to a divorce. The division of assets between both spouses is possibly the most notable during the proceedings. This is when the couple’s marital assets are distributed based on the process of equitable distribution. This means the assets are distributed fairly, but not equally. This can sometimes cause spouses to fear losing assets, leading them to want to hide them from their partner so they can be kept. However, it is never a good idea to hide assets in a divorce. If you believe your spouse is hiding assets, continue reading to learn more and contact an experienced New York divorce attorney for assistance with your case.
How Can Assets be Hidden?
Not all spouses are dishonest when it comes to the division of assets. However, it is important to not always take what your spouse is telling you at face value, as there is a possibility there are assets that exist that you do not know about. The following are different ways that a person can hide assets during a divorce:
- Overpaying on taxes so they can get the money bak in a refund the following year
- Asking an employer to delay a promotion or raise until after the divorce
- Delaying the receipt of a large commission from work
- Transferring assets to a friend or a separate bank account
How Can I Discover Hidden Assets?
In the event that a spouse hides assets in a divorce, it can be hard for you to have a comprehensive understanding of the marital assets within your case. It is because of this that there are ways to uncover and locate these missing assets if you wish to do so. Sometimes, divorce cases may require the assistance of outside experts. In cases such as these, it may be beneficial to hire a forensic accountant. This job of a forensic accountant is to help find assets that may be missing in your case. This is done by looking out for unusual transfers or sales relating to your spouse to track the places their money is going to discover what assets you may not have even known about.
Contact our Firm
The Law Office of Peter L. Jameson, PLLC understands the harsh implications of relocation can have on a child and his or her parents. When you have a contested relocation matter, it is important to have an experienced attorney to represent you in court. If you are faced with a relocation matter in Rockland County, contact The Law Office of Peter L. Jameson, PLLC today to schedule a consultation.