Steps to Take If You Suspect Your Spouse of Hiding Assets

 Posted on August 17, 2022 in High Asset Divorce

When it comes to divorce, Texas is a community property state. This means that the marital estate is supposed to be divided 50/50. Unfortunately, many spouses do not feel that their spouse is entitled to half of everything the couple owns and will do all they can to prevent that from happening–even if what they are doing is illegal. If you suspect your spouse is hiding assets, there are steps you can take to determine how they are doing it and where the assets are. A skilled Austin complex divorce attorney can help.

Steps Your Attorney Can Take

During the divorce process, there are many types of legal documents and records that must be shared between both parties. Many of these documents are handed over during the discovery phase. All information exchanged between spouses is done so under oath and consequences of intentionally omitting or covering up information can result in serious consequences.

An attorney can also use written interrogatories as a tool to gain information from a spouse. A skilled attorney will know how to ask questions in a certain way in order to glean significant information from the other party.

Further into the divorce process, attorneys will often conduct depositions of the spouses and any other relevant witnesses. If a spouse is hiding assets, these depositions – also given under oath – are another tool to help uncover any financial wrongdoing.

Other Financial Professionals

It is not unusual in a high asset divorce where hidden assets are suspected of an attorney to bring in a forensic accountant. A forensic accountant is specially trained and highly skilled at spotting and uncovering potential fraud. They are highly adept in digging out financial wrongdoing not only in your personal finances but also if your spouse owns a business and is suspected of hiding assets there, as well.

Forensic accounts will look for any suspicious asset movements or other unethical behavior. They often work with other financial professionals, including tax attorneys and business valuation experts, to help uncover where the trail of hidden assets may lead.

Contact an Austin, TX High Asset Divorce Attorney

If you are getting ready to divorce and you think your spouse has been hiding assets from you, call Powers Kerr & Rashidi, PLLC today to schedule a consultation with one of our aggressive Travis County hidden assets attorneys. We will take all appropriate legal steps to ensure your rights are protected and you get your fair share of the marital estate that you are entitled to.

Source:

https://statutes.capitol.texas.gov/Docs/FA/htm/FA.7.htm