Due to precautions related to COVID-19, we have expanded our options for remote consultations. Please contact our office to discuss whether a full phone consultation or video conference is appropriate for your situation.

EFFECTIVE LEGAL GUIDANCE FOR FAMILIES AND BUSINESSES

Help! I think my ex is hiding assets

| Jan 4, 2019 | Uncategorized |

If you’re getting a Colorado divorce, you might notice disparities in the marital assets that you’re aware of and those that your ex is claiming. So what happened to the rest of your jointly-owned resources?

Unfortunately, divorce can bring out the worst traits in some people. Sometimes, one spouse might try to stash assets that are part of the marital community in order to retain their sole ownership. There are a couple of ways to confirm your suspicions.

The first is to hire a forensic accountant to meticulously pore over the financial statements looking for any discrepancies. These trained professionals are very effective at ferreting out hidden accounts and following paper trails.

But forensic accountants are expensive to retain. While eventually it may become apparent that such a professional is what you need, there are cheaper ways to discover information, at least at the initial stage of your investigation.

Utilize voluntary disclosures

Litigated divorces use the discovery process to voluntarily disclose assets. You can review these disclosures to see whether what your ex claims is accurate based on your knowledge of your shared finances.

Demand involuntary disclosures

Chances are good that if your ex is playing fast and loose with the finances, they will drag their feet when it comes to providing access to financial statements. This is when you need to use the full power of the civil court system to compel them to respond.

Your family law attorney can use the law to hold their feet to the fire when it comes to answering interrogatories and requests for production of documents.

The deposition process

Your attorney can force your ex to give a deposition under oath in front of a certified court reporter. This becomes evidence that can later be introduced in court. While your ex might have few qualms about lying through their teeth to you about your jointly owned marital assets, such might not be the case in sworn testimony that could potentially cause them legal distress or complications.

The bottom line is that if you suspect your spouse is being less than truthful, you should take legal steps to force them to be accountable rather than attempting to right the wrongs on your own.