Atlanta Hidden Assets in Divorce Attorneys
The division of assets in divorce is always a contentious process, even if there are existing pre or post-nuptial that govern the division. Disputes over assets must be resolved for the divorce to be finalized. However, spouses may try to hide property and assets, especially if they are very valuable. Usually, assets are hidden by placing them in the possession of third parties or behind false documents. To find out if your spouse is hiding assets, you will need to assistance of attorneys, forensic accountants, and other experts to uncover any hidden property.
If you are going through a divorce and think your spouse is hiding property from you and the court, contact a Bushnell & Drye, LLC attorney for expert knowledge on this subject matter. Our trustworthy Atlanta divorce attorneys have experience handling complex assets and tough financial issues in divorce. They will help you protect your best interests and make sure you get what you deserve. Call (404) 869-1201 or submit an online information form to schedule a consultation today.
Hiding Assets in Divorce
Today, there are very few married couples who equally share all aspects of the family’s finances. Usually, one spouse handles the majority of the financial decisions, including paying the bills, investing money, and contributing to retirement accounts. This spouse typically has managing power over all joint accounts and other shared assets the couple may own. During the property division in a divorce, the spouse may try to hide assets out of greed. However, this is not always the case. Sometimes the spouse with the higher income, the “breadwinner,” may not manage the family’s finances, which means that the spouse with the higher income may try to keep more of their money away from joint accounts and out of the divorce process. This is never advisable, as the court will always find out and sanction appropriate punishments.
Finding Hidden Assets
To discover hidden assets in divorce requires knowing where to look. According to financial experts, the following are the most common ways a spouse may try to hide marital assets:
- A spouse may try to hide an asset through “selling” it at an undervalued price, including art, collectibles, antiques, jewelry, and other marital property.
- Filing false income tax reports at tax time to reflect a lower income, because this is the only time a spouse may have an officially reported income.
- Overpaying the IRS and other creditors at tax time may be an indication of hidden assets.
- Transferring assets, like stock accounts, personal property, and vehicles, to a third party or dummy company.
- Hiding Cash and other small, personal property in safety deposit boxes, secret hiding places around the home (beneath the bed), or other private locations may be an indication as well.
Uncovering Hidden Assets
At Bushnell & Drye, LLC our legal team will work in conjunction with you and other financial experts to uncover any hidden assets in your divorce. If you hire one of our experienced divorce attorneys for your legal representation, we will be sure to carefully examine any of you and your spouse’s financial records to make sure that you get your fair share. Contact us today for more information about our attorneys and for a consultation about your case.