During the breakdown of a marriage, people are often concerned about how much of their property they will lose to their spouse. That sometimes leads them to hide assets from the other spouse. Finding hidden assets in New Haven is essential to reaching a fair property settlement. The property division attorneys at Dolan Divorce Lawyers are adept at recognizing misleading financial disclosures and ensuring property division discussions are based on complete, accurate information.
When a couple files for divorce, the court immediately issues orders requiring the spouses to maintain the financial status quo until the divorce is final. The court also orders both spouses to submit financial affidavits disclosing all their assets.
Violating court orders and lying on sworn affidavits trigger consequences, but some spouses are willing to take the risk. They may hide wealth in various ways, including:
Connecticut General Statutes § 46b-81 gives both spouses an interest in everything either spouse owns, and requires property division to be fair. Hiding assets cheats the other spouse of their interest in the property. A New Haven attorney from our firm scrutinizes all financial disclosures and proactively seeks additional documentation to discover any attempt to hide assets.
In high-asset divorce cases or in any case where a spouse suspects their partner will try to hide assets, we typically engage outside experts to verify financial disclosures. Forensic accountants can scrutinize tax returns, account statements, and other materials to identify potentially improper transfers. Professional appraisers can verify the value of assets like real estate and collections. Business valuation experts can confirm whether your spouse’s disclosure is accurate.
Our New Haven attorneys can utilize the formal discovery process to further investigate any financial anomalies the experts detect. We can ask the other side to answer written interrogatories and conduct depositions of third parties. For example, if we suspect a spouse is intentionally delaying receipt of a bonus or incentive payment, we can depose their employer for information about the payment schedule.
Intentional concealment of assets is considered fraud. Our New Haven attorneys can inform the court of our findings and request that a Connecticut judge hold the dishonest spouse accountable by declaring the spouse to be in contempt of court. The judge might impose fines and can order the deceptive spouse to pay the attorney fees and costs associated with discovering the attempted fraud.
The judge may take the spouse’s conduct into account when deciding on a fair property settlement. The innocent spouse may be awarded a larger share of the couple’s property or more generous alimony because the other spouse attempted deception. At the very least, the fraudulent behavior will completely undermine the deceiving spouse’s credibility with the court.
Honest financial disclosure is key to a fair division of property in divorce. Unfortunately, sometimes spouses try to cheat their partners out of their fair share. The attorneys at Dolan Divorce Lawyers work diligently at finding hidden assets in New Haven divorce cases. If you believe misleading financial disclosures may be an issue in your divorce, contact us today for help.
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