In a contentious divorce, your spouse may take extreme measures to protect certain assets that he or she does not want to disclose for fear of either losing them or having to divide them. Hiding assets with friends or relatives, delaying bonuses or pay raises until the divorce is final or establishing a trust in a third person is not unusual. Some well-known celebrity divorce cases have involved spouses accusing the other of hiding assets, such as Paul McCartney’s spouse, Heather Mills, and Hulk Hogan and his spouse, both accusing the other of duplicity.

Boston Divorce Lawyer

You will need a divorce attorney who will aggressively seek out hidden assets, but you also need to be involved in locating these assets as well.

 

Best Divorce Attorney

Giving false information on a financial statement in a divorce case is fraud. The offender risks criminal prosecution and contempt of court as well as loss of the asset. Your attorney is entitled to ask for written responses under oath as well as to depose your spouse. Lying in a deposition or on interrogatories is also likely to expose the offender to civil and criminal charges as well as having to pay the other party’s attorney fees. If you feel your spouse is not being truthful in a deposition or in interrogatory responses,, there are other measures to take.

 

Divorce Legal Information

Boston divorce attorney Doug Lovenberg offers some suggestions to uncovering hidden assets in a divorce:

 

  1. An easy method is to obtain tax returns for the past 3 to 5 years. Lying on a tax return is a federal offense and can result in jail time and forfeiture of assets so it is possible that certain undisclosed assets will appear on a tax return.
  2. Copies of old bank statements and investment account statements may reveal substantial withdrawals and deposits of which you were unaware. Sometimes payments are made to a financial advisor or accountant who assisted your spouse in hiding assets. These people can be deposed.
  3. Contact your bank for copies of ATM withdrawals, which might indicate large amounts of cash being diverted.
  4. You are entitled to a free copy of your credit report from all 3 credit reporting agencies. Check them for any unusual credit activity.
  5. Check the county records office for evidence of transfer of real estate.
  6. Consider retaining a forensic accountant who is trained in uncovering hidden assets.

 

Finding hidden assets in a divorce case is a serious endeavor. Hire the best divorce attorney or divorce firm that knows what steps to take when this is an issue. Call divorce lawyer Doug Lovenberg, an attorney with years of experience in all types of Boston divorce cases.