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What Should I Do If I Think My Spouse Is Hiding Assets?

by | Nov 3, 2023 | Family Law |

The fear and uncertainty that comes with suspecting a spouse of hiding assets can be overwhelming. Such situations, laden with stress and worry, need delicate handling. In these difficult times, it is crucial to remember that there are legal avenues available to uncover concealed assets and ensure a fair division of property. The Law Offices of Michael A. Robbins stands ready to provide support. If you suspect that your spouse could be concealing assets in your divorce, discuss your case with our attorney at the soonest opportunity. We can provide advice specifically related to your situation.

Hidden Assets in Divorce Proceedings in Michigan

Hiding assets during a divorce proceeding in Michigan has serious legal ramifications. When one spouse conceals assets, it skews the value of the marital estate, which is the basis for property division and alimony decisions. If discovered, the offending party may face fines, fraud charges, and even criminal penalties under Michigan’s civil contempt rules. Therefore, it is essential to understand the indicators of hidden assets and take appropriate action.

Methods of Concealing Assets

Assets can be concealed in several ways. They could be transferred to a third party, converted into tangible assets like art or jewelry, or even stashed in offshore accounts. Spotting such concealment often requires a keen eye. Unexplained withdrawals or transfers, sudden decrease in income, or the existence of unfamiliar assets or debts may all be signs of hidden assets.

Gathering Evidence in High-Asset Divorce Cases

To gather evidence in high-asset divorce cases, certain tools can be utilized. Private investigators can uncover physical evidence of concealed assets, while forensic accountants can delve into complex financial records to find discrepancies. Both professionals can be invaluable when the stakes are particularly high.

Legally obtaining financial information during divorce proceedings is also possible through state discovery rules. Parties can request the production of documents related to real or personal property, ask written interrogatories (questions about marital property), or conduct depositions (face-to-face question and answer sessions). All these methods compel the spouse to disclose their assets under oath, with penalties for providing false or misleading information.

Don’t Navigate the Process Alone: Seek Legal Help

Navigating this legal terrain can be challenging, but with the right guidance, it is manageable. The Law Offices of Michael A. Robbins, with experience in divorce and family law cases, can provide the necessary insight. The team is equipped to handle complex property division cases, ensuring that all assets – hidden or otherwise – are accounted for and divided equitably.

Contact Our Divorce Attorneys For a Case Review

While the suspicion of a spouse hiding assets can be distressing, it is important to remain calm and rational. Seek the counsel of an attorney experienced in handling such cases. The best way to uncover hidden assets is through careful investigation and the right legal procedures. The Law Offices of Michael A. Robbins offers these services and more, ensuring that clients are guided through one of the most challenging experiences in their lives with compassion and competence. Contact us today to set up a consultation.