Is it a Good Idea to Hide Assets During a Divorce?
Although spouses may lie to each other regarding finances during the marriage it is illegal to lie to the Court about assets and debts. During a Westchester County Divorce one of the first steps is to complete a comprehensive financial disclosure document referred to as a Statement of Net Worth. This document is filed with the Court and exchanged between spouses.
Our White Plains Divorce Lawyers want to make sure that your Statement of Net Worth is accurate and includes all income, assets and debts. When completed the document is signed under penalties of perjury and any intentional false statements can easily be used against you later in the divorce proceedings costing you more money.
Our divorce attorneys also carefully review all financial information provided to our office by your spouse or attorney on the case. We review for devalued property, under reported income, over estimated expenses and/or exaggerating debt. In one matter a spouse did not include stock options and resulted in our client receiving a larger financial settlement. Attention to detail and our lawyers understanding your case is critical to your case.
We have tools to help if you believe your spouse is hiding assets and we can review how exactly to find those assets to make sure you have the largest financial recovery possible.
Some examples of how a spouse can hide an asset include: Selling jewelry for a discount to keep the cash, opening a bank account with another person, delaying benefits from employment, delaying a business transaction, Investing in non-reportable bonds, opening an offshore account, repaying a phony debt, paying money to a paramour, or simply skimming money out of an account,
The laws regarding division of assets and debts can be complex, especially during a long term marriage with high incomes. Our Divorce Lawyers have the experience to guide you through these laws to reach your desired result.
If you are thinking about a divorce or in the middle of a divorce action in Westchester County call the law offices of Proto, Sachs & Brown, LLP. Our Divorce Attorneys are available to explain the process and assist with your divorce matter.
Proto, Sachs & Brown, LLP have Westchester County offices near you in downtown White Plains with additional offices in Peekskill ,New York, New York. (914) 946-4808
