Dodd & Dodd Attorneys, PLLC

Dodd & Dodd Attorneys, PLLC Louisville Kentucky

(502) 584-1108

What to Do About Hidden Money or Assets in a Louisville Divorce

What to Do About Hidden Money or Assets in a Louisville Divorce

Are you searching for answers on what to do about hidden money or assets in a Louisville divorce?  Are you concerned that your former spouse has worked to stash away money, undervalue substantial assets such as a business or professional practice or manipulated income or business revenue to improve their position in your divorce?

Kentucky Family Law requires both parties to make a full, transparent and accurate disclosure of every asset and debt at the outset of the divorce process.  This includes any asset or debt, regardless of whose name the account is in or who may or may not be on title.  If you are concerned about hidden money or assets in a Louisville divorce you need the proven, experienced advice and counsel of the divorce and family law attorneys at Dodd & Dodd.

Fortunately, the attempt to hide or conceal money or accounts or manipulate the value of assets is not a new behavior under the Kentucky sun.  In our decades of experience in these challenging cases we’ve seen everything from manipulation of business revenues or associated salaries and income to the creation of foreign accounts or financial accounts in the name of a close family member, friend or even one of the children.  Executives may attempt to defer financial rewards such as bonuses, stock options or even salary increases in order to shield them in a divorce.  Others have tried to run up credit cards or falsely show payment in order to settle some debt or obligation.

If you are concerned about hidden money or assets in a Louisville divorce we know where to look and how to deploy experts such as forensic accountants to identify assets which were not claimed by a spouse but should have been, hidden accounts, assets which were inappropriately transferred of manipulation of employment or business income or valuation.  Tax returns often provide great insight into these practices.

A thorough inventory of the contents of a business inventory, a company safe, a safety deposit box, can reveal important discrepancies.

There are significant financial and even criminal penalties associated with hidden money or assets in a Louisville divorce.  The Judge may simply award the hidden asset to the other spouse, as happened in a recent case involving a winning lottery ticket.  The Judge may impose financial sanctions such as awarding a greater share of the assets, attorneys fees, expert fees and other expenses.  The breach of the fiduciary duty owed by each spouse to the other until the divorce is finalized can also expose a party to the potential for criminal charges.

You need experienced, proven divorce attorneys who have the experience and expertise to work through these challenges and protect your interests. We invite you to review the strong recommendations of our former clients and contact us or call 502-584-1108 to schedule an appointment with one of our experienced divorce and family law attorneys.