Where could a spouse hide vast amounts of wealth?

By |2022-04-06T18:52:04+00:0006 Nov 2016|Categories: Divorce|


It is not uncommon to feel blindsided if your spouse unexpectedly files for divorce. Perhaps you were aware that your relationship was strained, but you held out hope that it was just a passing phase. Or maybe the divorce took you by total surprise. Regardless, you are now faced with a number of daunting tasks, among which is making sure that you get a fair property settlement.

If you are in a situation where there is a great deal of wealth at stake, it can take some time to inventory all of the assets that are eligible for division. And it is possible that your soon-to-be ex has been hiding some of these assets in an attempt to keep you from getting your fair share. If you suspect this is the case, you likely need to put your detective skills to work to find these assets.

But where should you look? The following are ways that spouses have been known to hide some of their wealth:

  • By making loans to family or friends who agree to pay it back after the divorce is finalized.
  • By overpaying federal taxes and then instructing the IRS that the money be used to pay taxes for subsequent years.
  • By generating fake business expenses that can be written off from his or her income.
  • By transferring funds into a friend’s account.
  • By purchasing items, such as antiques, jewelry, and art, that can be overlooked or undervalued and then sold post-divorce.

These are just a few ways to hide assets, and if your ex has been planning the divorce for a long time, it is possible that the value of what has been hidden is quite substantial. For this reason, you may want to have a family law attorney provide you with help getting an accurate account of the property and assets that comprise your shared wealth. The attorney can also act on your behalf to help ensure that you receive the settlement to which you are entitled.

About the Author:

Dorie Anne Rogers - The Law Offices of Dorie A. Rogers, APC
Dorie A. Rogers, a Family Law Specialist, Certified by the State Bar of California, has been an attorney since 1981 with an exclusive family law practice located in Orange County. She is accepting dissolution cases with support and property issues including the use of forensics to ascertain business value, community interests and to establish monthly case flow analysis. Ms. Rogers has substantial experience in high conflict custody litigation involving sophisticated psychological issues. She drafts premarital and postmarital agreement designed to define and establish parties' separate and community property interests. Paternity cases and domestic violence matters are considered part of her practice. Ms. Rogers is a court-approved and court-appointed to represent minor children.Ms. Rogers consults with individuals concerned about entering or exiting a relationship. She advises effective strategies for dissolution or premarital planning. Knowledge is power and good planning affords better results.Specialties: Family Law Specialist, Certified by the State Bar of California
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