Finding Hidden Assets During Divorce
Was your soon-to-be ex-spouse in charge of the family finances? Was he or she in the habit of underreporting income on your joint tax returns in an effort to save money each year? Have you noticed unexplained receipts or statements from accounts that are unfamiliar? Do you have concerns that your husband or wife has been stashing money without your knowledge?
Although each of you is required to fully disclose all of your assets during the divorce process, some people do not follow the rules. The emotional turmoil of your divorce can easily cloud your assessment of the facts of your situation. An attorney knowledgeable in property division can help.
Experienced And Skilled Legal Assistance Finding Hidden Assets
At Duff & Kronfeld, P.C., our lawyers have more than 60 years of combined experience helping clients throughout Fairfax County with all matters of family law, including finding hidden assets during your divorce and the property division process.
Some ways assets may have been hidden by your spouse include:
- Underreporting on annual tax returns in order to avoid showing income on a financial analysis report
- Overpaying creditors and the IRS with the intention of obtaining refunds after the divorce is settled
- Deferring salary, commissions or bonuses until a later date
- Lending a large sum of money to a friend or family member knowing it will be returned as soon as the divorce process is complete
- Setting up accounts using the name and Social Security number of a child or trusted friend
- Understating the value of a self-owned business,
business assets or accounts payable
This list is merely a small sample of how assets may be hidden. During a complex or high-asset property division process, you cannot afford to miss anything when calculating the amount of support you or your children deserve, or the amount of marital assets to which you are entitled.
You Have Too Much To Lose. Call Today For Help.
Your spouse may be hiding assets, no matter your level of income. Contact us at our Fairfax, Virginia, office by calling 703-591-7475 or by completing a short online form.