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Uncovering Hidden Assets in Your California Divorce

Posted on in Divorce

Lost Gatos, CA divorce attorney asset division

While all divorces can come with their fair share of complications, the financial aspects of a high-asset divorce can be increasingly complicated. The state of California is a community property state and all shared assets are supposed to be equitably distributed in the divorce, but unfortunately, this does not always happen. In many instances, a divorcing spouse may hide or fail to disclose assets in an attempt to keep them out of the divorce proceedings. If you believe that your spouse is hiding a significant amount of the assets that are meant to be divided between the two of you, it is time to speak with your attorney. You should not jeopardize your financial future simply due to your spouse hiding assets.  

How to Search for Hidden Assets 

If you believe your spouse is hiding assets from you, it is important to inform your attorney as quickly as possible. You and your attorney then need to inform the court in order to invoke the disclosure or discovery process. While this is taking place, you can begin searching for hidden assets on your own. If you believe that your spouse is hiding financial assets, you may be able to find bank statements or stock certificates hidden in the house. If the home search is inconclusive, you should speak with your bank. 

If you have shared accounts, you should be able to do a deep dive into any suspicious transactions. These could include transferring money from a shared account to a private account, transferring money to a friend or a family member, or repayment of a loan that you have no prior knowledge of. If you and your spouse share a business, you should also look into the business spending. If your business has spent significant funds on one asset or you notice a significant change in spending habits, your partner may be using the company to hide assets. You can also work with your attorney to hire a knowledgeable accountant to investigate your personal or business accounts. 

Contact a Los Gatos, CA Divorce Lawyer

While divorce can be an emotionally trying and complicated situation, a separation from your spouse should not jeopardize your financial future. Attorney Benita Ventresca has years of experience helping clients navigate the divorce process. If you believe your spouse failed to disclose or is knowingly hiding assets, you need an experienced legal professional by your side. To schedule a free consultation with our knowledgeable Los Gatos, CA asset division attorneys, call our office today at 408-395-8822. We service clients in the Los Gatos, Sunnyvale, Saratoga, Cupertino, and San Jose areas.

 

Source:

https://www.courts.ca.gov/1254.htm?rdeLocaleAttr=en

 

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