Hidden Assets Attorney In Glendale, CA
One of the most difficult aspects of divorce is the division of all marital property. During the division of property, one spouse may be tempted to try to hide assets from the other. If you suspect your spouse is hiding assets, you need to hire a skilled Glendale hidden assets lawyer as soon as possible. Whether you live in Kenneth Village or call Montrose home, the team at Kramer & Zitser, LLP is here to fight for you and advocate for your assets.
Work With the Team at Kramer & Zitser, LLP
At Kramer & Zitser, LLP, our team is led by two senior divorce attorneys in Glendale with over two decades of legal experience. We understand how difficult divorce cases can be and want to support you by fighting for your rights.
When you discover that your spouse is hiding assets, it can damage your trust. You deserve to know the full truth of your shared financial situation. Let our Glendale family law attorneys uncover that truth and go to bat for the assets you deserve.
Signs Your Spouse Is Hiding Assets in Your Glendale Divorce
In a California divorce, all marital assets and forms of property are subject to division between the couple. Marital assets include anything that was gained during the marriage by either spouse. This can include cash, benefits, retirement accounts, bank accounts, the family home, vehicles, and business interests. When the couple is unable to reach an agreement on how these assets will be divided, the courts will need to make this determination on their behalf.
In Glendale, roughly 15% of the adult population has been divorced. It can be helpful to know you are not alone in working through the financial details of a divorce. Nearly 40% of all U.S. couples have admitted to some form of financial infidelity, including the hiding of assets during a divorce. Dealing with a divorce can already feel like a betrayal of trust. When your spouse is hiding assets, it only adds to the intensity of this feeling.
At Kramer & Zitser, LLP, we can uncover hidden assets and hold your spouse accountable for these actions. There are several signs that point to the hiding of assets during a divorce. These include:
- Business expenses. If you and your spouse own a business, or your spouse established a business during the time of your marriage, it is necessary that you have a business valuation done to uncover any hidden assets. If your spouse starts claiming that the business is seeing an increase in expenses, this can point to the fact that they are likely trying to hide valuable business assets from you.
- Cash purchases. If your spouse starts to purchase expensive items with cash, it could point to a tactic of storing wealth. Following your divorce, your spouse can return or sell these items, retrieving the cash.
- Significant transactions. This includes your spouse withdrawing large portions of cash from your shared accounts and storing it in places you are not aware of. If you begin noticing large withdrawals from marital accounts, it is important that you report this to your attorney.
- Paying back debts. If your spouse begins to claim they owe close friends or family members large portions of money, this can be a sign that they are deliberately trying to hide assets. Once the divorce has been finalized, the spouse taking this action will typically retrieve the cash from their family or friends.
If you believe your spouse is hiding assets in a Glendale divorce, it is time to hire a lawyer if you have not done so already. This is unfortunately all too common in divorce cases of affluent marriages or in cases where the couple owns a large portion of high-value assets. At Kramer & Zitser, LLP, we are here to investigate and bring the truth to light.
FAQs
What Is the Goal of the Courts During Property Division?
The goal of a California property division is to make sure all spousal and child support awards are fair. This process protects the couple’s property and debts at the time of separation, and makes sure that all assets and debts are correctly divided according to California state law. They also want to make sure that any children involved in the divorce are given enough resources for their well-being.
What Are the Most Common Way Assets Are Hidden?
The most common ways in which assets can be hidden include within international accounts, decentralized currencies, and businesses. Our lawyers have identified assets hidden in foreign bank accounts, in the undervaluation of business assets, bank accounts registered to minor children, or by intentionally delaying certain business opportunities. Some individuals are even using hidden cryptocurrency wallets by transferring assets into digital currency like Bitcoin.
Are There Penalties for Hiding Assets?
There are penalties for hiding assets during a divorce. In California, if a spouse is found to be hiding assets during a divorce, they may be ordered to pay all of the divorce-related costs if they are found to be hiding assets. This can include all the attorney fees of the other spouse. They may also be required to pay damages. Additionally, they can lose their rights to all forms of community property.
Can a Prenuptial Agreement Protect My Assets?
Yes, in California, signing a prenuptial agreement before you even get married can work to protect your assets in the event of a divorce. Even if you do not get divorced, many people believe that signing a prenuptial agreement can increase trust in their finances and their spouse. 39% of couples in the U.S. who had a prenup in place have reported that they feel more secure regarding their financial future.
Hire a Hidden Assets Lawyer Today
When it comes to divorce, there are few topics more conflict-inducing than the division of marital property. When one spouse chooses to betray the trust of the other and hide assets, you need to hire a hidden assets lawyer who can step in and uncover the truth.
At Kramer & Zitser, LLP, we know just how difficult this situation can be, especially for affluent couples. Contact our offices today to learn more and to schedule your initial consultation with our divorce attorneys.
