According to relevant California law, each spouse must disclose all assets and liabilities to the other spouse, even if those assets are currently considered to be separate property. This fiduciary duty continues even after the spouses have separated and are waiting for finalization of their divorce.
It is not uncommon for spouses to try to misappropriate, conceal or misrepresent the value of assets before or during a divorce. As complete financial disclosure is required by law, the failure to be forthcoming about property could result in serious consequences, including the loss of an entire asset that might have been equally divided. A divorcing spouse who engages in any kind of fraud to attempt to hide assets subject to division risks significant criminal penalties as well. When you need a reliable Orange County high net worth divorce attorney who can identify issues like these in your case, the Law Offices of Dorie A. Rogers are available to assist you.
If you are concerned about protecting your net worth during divorce, we can take immediate action to safeguard your financial stability. For example, we could place a lien on your home or freeze certain credit card and bank accounts to ensure that marital assets and debts will remain in place until they can be properly addressed through settlement negotiations, mediation or courtroom proceedings.