What To Do If Your Ex Is Hiding Assets In A Divorce Case?
Posted on: 27 October 2020
When a divorce attorney and client discuss the assets involved in a case, one of the first jobs is to account for all of them. This isn't always a simple task, especially if at least one of the two ex-partners has fairly complex finances. However, there may come a moment when it's apparent that your ex might be hiding assets.
You'll likely want to know what you can do about it. Here are four things everyone worried about the disposition of assets in a divorce should know.
Accounting for Everything
The first thing you'll want to do is to make sure you're accounting for as much of the assets as possible. Hopefully, you've maintained copies of receipts, titles, mortgages, and other items that point to the assets you held in common with your ex. The same goes for various accounts, including ones for checking, savings, retirement, investment, and education needs.
If you need documentation from your former partner, a lawyer can send interrogatories to the other party's divorce lawyer. These are written questions that demand answers. Similarly, you can also appeal to the court for the discovery of documents.
Notifying Your Ex and Their Lawyer
Anytime someone believes a former partner has hidden assets, it's important to formally notify them of your concerns. A divorce attorney will provide a detailed note explaining what assets they're worried about. This creates a paper trail.
It also offers the other side an opportunity to come clean and straighten up. When you do eventually ask a judge for legal action, it's best to demonstrate that you made a good-faith effort to address the problem without turning it into a fight.
Determining if the Claim Is Relevant
You should take some time to evaluate whether there is a legally relevant question at stake too. In particular, you should consider whether the assets meet your state's standard for common property. Otherwise, there's a strong risk the court will deny any motions involving the assets because they belong to your ex anyhow. For example, an asset might have been pre-marital property that was never titled as common property.
What Now?
Typically, the court will evaluate your claim and determine if there's an issue with the hidden assets. If the assets were illegally hidden, the court will order the partner hiding the assets to produce them. When they can't, the court will determine the value of the assets and order the at-fault party to compensate their ex for a fair portion of the asset's value.
If you have further questions, contact a divorce attorney for help.
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