Pasadena divorce laws state that both parties must provide an honest accounting of assets, but many people will attempt to cheat the system if they've had a bitter divorce that involves infidelity or a vast income discrepancy between the spouses.
If you think your spouse is trying to hide assets, there are a few steps you can take to get a better picture of what might be missing.
- Check tax returns for the past five years to look for inconsistencies in income or investments such as real estate holdings.
- Look at checking and savings accounts for any deposits or withdrawals that seem suspicious.
- Visit the local courthouse to look for any loan applications on file.
- Visit the tax assessor for information about any property that has been purchased.
- Check with your spouse's employer to see if he or she is due for any bonuses, stock options, or pay raises. Postponing these perks until after a divorce is a way some people try to hide assets.
- Confer with friends and family members to see if your spouse has recently paid any debts. Often, people will try to hide assets by repaying a false debt to a friend or family member and then claiming the money after the divorce is final.
Your attorney will not automatically look for hidden assets. If you suspect your spouse is hiding assets, you need to discuss your concerns with your attorney. Depending upon the possible value of these hidden assets, he or she may recommend bringing in an expert to help with the search. For example, a forensic accountant can provided a detailed look at business records if your spouse is self employed and you are concerned that business assets are not being reported properly.
How Can We Help?
If you have reason to think that your spouse may be attempting to hide assets during your divorce, please call our office at (626) 683-8113 or email us at info@PasadenaLawOffice.com. Our Pasadena divorce attorneys have extensive experience dealing with property distribution and can help make sure you get the settlement you deserve.