Do you think your spouse may be attempting to hide assets during your divorce? The initial orders and instructions in a Jefferson County or Louisville divorce require former spouses to disclose all assets and liabilities to each other in a complete, transparent and accurate manner. Each spouse has a fiduciary duty to act in the other’s best interests. Violating these duties and the orders of the Court expose a spouse attempting to hide assets to severe sanctions and in extreme cases criminal exposure.
Unfortunately, there are people who attempt to hide assets, investment accounts, retirement accounts, money or property which they believe belongs to them and should not have to be shared with their former spouse during marital property division in a divorce. Kentucky law protects the “separate property” of a spouse – property they owned before the marriage and which they kept separate from marital assets as well as some gifts and inheritances. This must still be disclosed.
What should you do if you suspect your former spouse is attempting to hide assets? The experienced Louisville based divorce and family law attorneys at Dodd & Dodd protect our clients from spouses who attempt to conceal assets or money during the divorce.
When it is believed that your spouse may be attempting to hide assets during your divorce we review tax returns, income and wage statements and business financial reports for several years prior to the date of separation to ensure full and accurate disclosure. We fight to protect our client’s interests – in this case often relating to the establishment of the “date of separation.” This important date establishes the point when any property acquired or money earned is “separate” from the marital property.
We work with forensic accountants and other professionals who have the tools and knowledge to find hidden accounts and assets and uncover attempts to conceal these assets. We work to ensure the attempt to hide assets is brought to the Court’s attention and aggressively assert our client’s rights to protection and to recover costs invested to discover the hidden assets as well as additional sanctions to punish the efforts of a dishonest spouse.
If you are involved in a contentious divorce or are concerned that your spouse is not fairly, completely, and accurately disclosing all assets we invite you to contact us or call 502-584-1108 to schedule an appointment with one of our attorneys.