Is Your Spouse Hiding Assets from the Divorce Court?
When you finally arrive at the decision to divorce your spouse, you’ve probably reached a point of not being too huge a fan of your soon-to-be ex, nor them of you. In fact, your relationship may have begun to go south years before the divorce, during which time your ex may have started to set aside money in hidden accounts or invested in assets they never mentioned. It’s also possible that your spouse has also been, shall we say, honesty-challenged, and has long had cash or big-ticket items they didn’t tell you about, but to which you’re nevertheless entitled to a portion of under SC marital property laws. If, after looking at your spouse’s financial disclosures, you have reason to believe your husband or wife may have failed to disclose their entire net worth, speak with your South Carolina divorce attorney about looking for hidden assets.
During the course of a divorce, both parties must make full and complete financial declarations on the form provided by the South Carolina Family Court. These disclosures are intended to cover all of a spouse’s assets, debts, and income information. Unfortunately this does not stop some parties from trying to hide money or failing to provide full and complete financial disclosures from the outset.
Once you’ve reviewed your ex’s financial disclosures, if you feel that they aren’t complete, you can help your attorney home in on what may be missing through the discovery process of your divorce case. For example, if you recall your spouse mentioning an investment in real estate that doesn’t appear on the disclosure, or a bonus that he or she received from work that was not accounted for in their salary reporting, your attorney can direct document requests specifically toward these items, making the requests harder for your spouse to evade. Your attorney can also send subpoenas to various entities if needed to uncover undisclosed assets or sources of income. You may also want to consider using a forensic accountant, who can review tax returns, pay stubs, and statements from financial institutions to attempt to discern where unaccounted-for funds to which you have a claim may have ended up.
For compassionate, knowledgeable, and trial-ready legal assistance in finding undisclosed assets or obtaining a divorce in South Carolina, contact the Spartanburg family law attorneys at The Cate Law Firm for a consultation on your case, at 864-585-4226.