In divorce cases, the division of assets can be a complex process, and hiding assets is generally not a lawful or ethical practice. In Missouri, as in many other jurisdictions, both spouses are required to disclose all of their assets and liabilities during divorce proceedings.
If you suspect that your spouse may be hiding assets, it’s crucial to consult with a family law attorney who can provide advice tailored to your specific situation. Some common signs that assets may be hidden include:
- Unexplained Changes in Financial Behavior:
- Sudden changes in spending habits or financial behavior that seem inconsistent with past behavior.
- Transfers of money to friends or family members.
- Complex Financial Transactions:
- Unusual or complex financial transactions that are not easily explained.
- Transactions involving offshore accounts or complex business structures.
- Missing or Incomplete Financial Documents:
- Unavailability of financial documents during the discovery process.
- Changes in Business Practices:
- Alterations in business practices, such as changes in invoicing or accounting methods.
- Underreported Income:
- Failure to report income accurately on financial statements or tax returns.
If you suspect hidden assets, your attorney may employ various legal tools to uncover them, such as:
- Discovery Process: This involves formal requests for information, documents, and evidence from the other party.
- Forensic Accounting: A financial professional may be hired to examine financial records and uncover any discrepancies.
- Depositions: Sworn testimony may be taken from the parties involved, during which they must answer questions under oath.
It’s important to note that attempting to hide assets during a divorce can have serious legal consequences, and the court may impose penalties for such behavior. Keep in mind that laws can vary, and it’s crucial to consult with a qualified family law attorney in Missouri who can provide guidance based on your specific circumstances.
At Raza Family Law Solutions, we practice family law effectively guiding clients through prenuptial and post nuptial agreements, dissolution of marriage, modifications of prior judgments, and resolving child custody disputes. We also help families take a different approach to divorce with mediation and collaborative work. Contact us for a consultation at (314) 314-5505.
