Nassau County Hidden Assets Divorce Lawyer
Don't Let Your Spouse Hide Assets from You
Divorce can be difficult and unpleasant for everyone involved. During this stressful time, it is an unfortunate reality that some spouses hide assets from their soon-to-be-ex in order to minimize how much that person receives after a divorce. Hidden assets can impact not only the initial financial settlement, but also ongoing compensation such as alimony and child support.
Hiding assets makes an already-frustrating process even uglier, and can be grounds for harsh penalties and even the dissolving of pre- or post-nuptial agreements in New York.
What Are Hidden Assets?
While there are quite a few different assets that can be hidden in a divorce, the term refers to anything of value considered "marital property" that one person attempts to keep secret from the other person. For example, if one spouse moves money out of a shared account into a secret off-shore account to try to keep all of it after the divorce, that would be a hidden asset.
Some common types of hidden assets include:
- Artwork, antiques, and other valuables removed from a house before marital property is determined in a divorce.
- Money moved from a shared account to a secret account.
- Bonuses or major stock options earned by one spouse while married but purposely delayed until after a divorce.
- Money moved from a business either as fake salary or a loan to be paid back after the divorce.
- Land or other major property purchased during the marriage but kept secret from one spouse.
- Money transferred from accounts or businesses through the purchase of bonds or traveler's checks.
How Can I Find Hidden Assets?
Depending on the nature of the assets and what a spouse has done in order to try to conceal them, there are a few different ways to go about finding them.
Once separation seems inevitable between you two, but before moving out, you should acquire copies of all financial and property paperwork for your own records. In many cases, assets may not be willfully hidden - one party simply does not know they exist. Having documented proof via paper records not only makes sure you know about them but can prove they exist in a courtroom. A great deal of information is available online, so simple web searches can help find records and evidence of property and financial holdings that may be otherwise concealed.
Hiring a divorce lawyer is often vital for finding hidden assets. An experienced lawyer has been through the process countless times and knows the easiest ways to make sure all marital property is accounted for. In extreme circumstances, it may be necessary to hire a private investigator. If that’s your situation, not only can your lawyer help you find a skilled investigator, but he or she can also make sure your rights are protected in the process.
Do Not Let Your Spouse Hide Assets
Fortunately, hidden assets are relatively uncommon in a divorce. The harsh penalties involved tend to dissuade most people from trying to hide marital property from a spouse. However, it does happen and you should protect yourself from such deceit.
The experienced Nassau County divorce lawyers at the Law Offices of Paul A. Boronow, PC, can work to find the marital property you own with your spouse and make sure you are treated fairly in your divorce. Call us today at (516) 227-5353 to talk about your case and protect your rights.
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