What To Do If Your Spouse Is Hiding Assets?
A divorce can be challenging for both spouses. It can reveal unexpected situations regarding the distribution of assets and property. However, many divorce cases have witnessed the spouse hiding assets. The majority of the people might not be aware of the steps that should be taken in such scenarios.
People often search for family law attorneys near me when they witness their spouse hiding assets. However, seeking legal help after these incidents would not be a concrete solution. This article covers all the necessary steps you should take after finding out the spouse it’s hiding assets. Being aware of these factors can help you deal with the situation better.
- Gather evidence
Many people make the mistake of directly confronting their spouse about this matter. It could often lead to unwanted scenarios where disagreements could take place. Instead, one should gather the evidence before confronting their spouse about the assets. This evidence could be comprised of financial transactions, discrete expenses, etc.
Spouses can also gather information from the employers and seek any data related to finances or assets. The best way to find concrete evidence is by subtracting the spouse’s income from general expenses. The result of the difference would be enough to prove missing assets.
- Seek legal help
If you find out any evidence related to missing assets, it would be in your best interest to contact a family law attorney near you. The attorney can initiate asset distribution for you and provide you with a group of private investigators that can track any missing asset by tracing suspicious expenses and the difference between the income.
In such cases, the lawyer can also approach the opposing counsel to schedule an asset division negotiation to protect your assets from being hidden. Lastly, an attorney can deal with the situation rationally while one might be overflowed with mental stress and emotions. Hence, it would provide you with the most benefits to hire an attorney after finding evidence.
- Legal protection
Often, spouses own assets and properties jointly. Spouses also share property rights and support, leading one to hide assets. However, one can file a petition demanding legal protection over assets and properties. The judge can also order to freeze of bank accounts and other assets if evidence suggests hiding assets.
With the help of an attorney, one can achieve legal protection for the assets they wish to keep after the divorce. While it may sound complicated, an attorney would break it down in simpler forms if the situation persits. Once legal protection is granted, you will not have to worry about any assets being hidden by your spouse.
