Skilled Hidden Assets Attorney in Redondo Beach, CA
When you get divorced, there are many things you must consider, such as child custody or spousal support. One of the most important parts of divorce is dividing assets. When one spouse tries to be sneaky and hide assets, it can make your case take longer and cost more money. However, when you have a well-versed Redondo Beach hidden assets lawyer on your team, discovering your spouse is hiding assets could be beneficial to you.
At Kramer & Zitser, LLP, our team can help you work through a hidden asset case. A Redondo Beach hidden assets attorney can end up being the most valuable asset during your divorce, especially if your spouse is trying to conceal substantial assets from you. Our legal team has over 50 years of experience in family law, and we have exposed hidden assets in countless cases before. We can do the same for you.
What to Do if Your Spouse is Hiding Assets
If you discover that your spouse is hiding assets, you should bring it to the court’s attention by means of your divorce attorney. Hidden asset cases in Redondo Beach are handled by the Los Angeles County Superior Court, Southwest District at the Torrance courthouse on Maple Street.
Hiding assets is considered a breach of fiduciary duty in a California divorce. The household median income for Redondo Beach is $150,245. The median property value is $1.28 million. It can be tempting for divorcing individuals to hide assets for their own personal gain when facing divorce. Despite the bad decision that this usually proves to be, many people still take the risk.
California law requires both parties in a divorce to file a declaration of disclosure identifying their finances. If you suspect that your spouse is hiding assets in your divorce, this is something that needs to be addressed promptly. Hire a hidden assets lawyer to advise you on how to proceed. They can help you gather the evidence necessary to prove your suspicions to the court and hold your spouse accountable for their actions.
Hidden Asset Divorce Components
A hidden asset divorce involves one spouse’s suspicion that the other is not disclosing all the marital assets. This can result in additional resources, time, and stress throughout your case. Some things you may be facing in a hidden asset case are listed below:
- Gather evidence. The most important factor in a hidden assets case is evidence. You need to be able to prove what your spouse is doing, and you need to gather this evidence without alerting your spouse. Quietly collect and secure documentation that proves your spouse’s illegal activities. Look at account activity, check for unusual withdrawals, wire transfers, and unexplained payments. Then, protect that evidence at all costs.
- File a motion. When your lawyer has the evidence you’ve collected, they can then file a motion for an Automatic Temporary Restraining Order (ATRO). This type of order goes into effect to prevent either party from transferring, hiding, or disposing of community property without written consent or a court order. The court can intervene to stop your spouse from moving money.
- Initiate discovery. One of the most helpful parts of the divorce process is discovery. Your lawyer can use the discovery process to force your spouse to disclose all of their financial records, including bank statements, tax documents, investment records, and loan applications. Your lawyer can even subpoena banks, employers, and brokerages to release your spouse’s records, bypassing their control entirely.
- Hire financial professionals. It’s understandable not to know where to start when it comes to figuring out how your spouse is hiding money. That’s why it’s recommended that you hire a forensic accountant to dig through all of their financial records. They are specially trained to trace cash flow, uncover inconsistencies, and examine business ledgers to find illegal activity.
- Petition the court. Once you have definitively proven that your spouse has been hiding assets, you can petition the court for penalties. It’s not uncommon for the court to harshly penalize a spouse who has committed financial fraud. They could even be facing jail time. Most of all, their actions can shift the final divorce settlement heavily in your favor. Your spouse might even have to pay your legal fees.
FAQs
What Do I Do if My Spouse Hides Assets in a California Divorce?
If your spouse hides assets in a California divorce, you need to gather as much evidence as you can find that proves their fraudulent actions. The California court system takes this very seriously. Any evidence that proves your spouse’s fraud can work heavily in your favor and result in a highly favorable divorce settlement for you. Your attorney may suggest hiring a forensic accountant to examine the evidence on your behalf.
Is It Illegal for a Husband to Hide Money from His Wife?
While it’s not illegal for a husband to hide money from his wife during a marriage, it’s highly illegal to do so during a divorce. California divorce laws require both spouses to disclose all of their financial records to the court during the discovery process. Any attempt by either spouse to hide assets from the court is seen not just as illegal, but disrespectful to the court. The consequences can be severe.
How Can I Prove My Spouse Is Hiding Money?
There are many ways you can prove that your spouse is hiding money. The most reliable way is to hire a forensic accountant to trace hidden assets and search through your spouse’s financial documents to find evidence of fraud. The more evidence you have of illegal activity, the easier it can be to prove what your spouse is doing. Your lawyer can help you gather evidence and hire a reputable forensic accountant.
What Is Considered a Hidden Asset in a California Divorce?
In a California divorce, a hidden asset is any money, property, income, or financial resource that one spouse is willfully concealing from the other in an attempt to avoid a community property split. Hidden assets can take the form of secret bank accounts, income manipulation, undeclared business assets, phony debts, and more.
Hire a Redondo Beach, CA Hidden Assets Lawyer You Can Trust
California’s hidden assets laws are quite clear that hiding assets in a divorce is illegal and can result in serious penalties. At Kramer & Zitser, LLP, our Redondo Beach family lawyers can assist you in identifying and inventorying all your marital assets. Contact us to speak with someone about your options.
