Uncovering Hidden Assets after a Divorce has Finalized

 Posted on January 23,2015 in High Asset Divorce

Hiding assets from another spouse is an all too common scenario in high-asset divorces. Often, the offending spouse feels he or she is entitled to those assets and the other spouse is not. Hiding assets in a divorce is against the law; however, even that fact does not deter an unscrupulous spouse from keeping the other spouse from his or her fair share of a marital estate.

In many cases, this attempt of hiding assets is discovered during the divorce, often through the discovery process or with the aid of forensic accountants, however, there are also cases where the offending spouse succeeds in hiding the assets and they are not included in the final marital estate division.

If you have discovered that your ex-spouse hid assets during your complex divorce case, there is a good chance that you may still be able to recover what should have been legally awarded to you. The state of Texas has a legal statute which allows an ex-spouse to recoup undisclosed assets. The law is called Suit to Divide Undivided Property and is part of the Texas Family Code.

A party may bring a Suit to Divide Undivided Property against his or her ex-spouse if the assets in question were actually in existence at the time a divorce was pending. Charges cannot be brought for any assets that were gained or earned after a divorce was finalized.

If an action is brought in front of the court alleging that there were undisclosed assets not divided during a divorce, the judge may look at several factors in making his or her decision. Typically he or she will consider whether the assets were hidden intentionally as a way to defraud the other spouse out of their share of the marital estate.

Another way assets are not disclosed can sometimes occur by accidental oversight. For example, if an asset was listed in a party's financial inventory but was never addressed during divorce negotiations, this would be considered an accidental oversight.

If you have discovered that you ex-spouse did not disclose all assets during you complex divorce, please contact an aggressive Cedar Park high-asset divorce attorney to see if you may be eligible to file a Suit to Divide Undivided Property to obtain those assets that are legally yours.