Valuating Hidden Assets During Divorce
Divorce Lawyers Serving Orange County, CA
Irvine divorce attorneys at The Buncher Law Corporation are experienced in working with leading
forensic accountants and business evaluation experts to identify and properly
divide community property assets. It is not uncommon for one spouse to attempt to hide community property
assets, or to cause a community property business he or she is in control
of to appear to have decreased in value. Whether you are trying to uncover
your ex-spouse's hidden assets, protect your separate property, or
prevent the community from taking an unfair portion of your business,
our attorneys are here to help you.
Tell us about the details of your case during an initial consultation: (949) 536-7500.
How Are Marital Assets Hidden?
It is particularly common for a spouse to hide assets when he or she has
been primarily in control of the families' finances. This is also
true when both spouses, for one reason or another, have kept "their"
respective finances and accounts separate, even though under the law they
are community property and must be divided evenly. Funds and properties
can be hidden by a variety of means, such as holding accounts or title
to property in a sibling's or friend's name (often referred to
as a fraudulent transfer). Such conduct is a violation the spouse's
fiduciary duty, and can result in the harmed spouse being awarded well
more than his or her half community property share of the asset as a punishment
to the wrongdoing spouse.
Among several other techniques, accounts can be manipulated to make:
- The company appear to be less profitable than it really is
- Cause the business to have false or inflated debts and/or expenses
- Postpone and/or hide accounts receivables.
Furthermore, if the wrongdoing spouse is caught lying under penalty of
perjury, they can be subject to criminal punishment. Also as noted, one
spouse may also attempt to artificially deflate the value of an asset
that contains a community property interest, such as a business.
Contact our legal team today
to begin strategizing for your asset valuation case.