Are you worried that your former spouse has not or will not make a full, transparent and accurate disclosure of their income and assets? What should you do when an ex hides money or an asset during a divorce in Carlsbad or North County?
Protecting your interests from the intentions and schemes of a former spouse is one of the most important reasons to work with the Certified Family Law Specialists at Burke & Domercq. We have served North County and San Diego Family Courts for decades. We have extensive experience with cases where an ex hides money or an asset during a divorce in Carlsbad. We have achieved remedies for clients who discover their ex hid money or assets from the Court after final orders have been issued.
One of the first steps in any divorce in California is to make a truthful, accurate, full and transparent disclosure to your former spouse of all assets and liabilities you have at the outset of your divorce. These financial disclosures must include all property, all assets, all debts, all sources of income and every financial, business, investment or retirement account.
The Court will determine if an asset or liability is community property or separate property. Community property must generally be equally divided between the parties under California law.
What happens when an ex hides money or an asset during a divorce in Carlsbad? Each of you have a legal fiduciary duty to one another until the divorce is finalized. This requires you to conduct all financial matters and provide information in a way which reflects the best interest of your spouse. Any attempt to hide money, assets, business income, investments, retirement or any other asset is a violation of fiduciary duty.
When an ex hides money or an asset during a divorce in Carlsbad there are many strategies to find them and bring the issue to the Court. We work with forensic accountants, tax and financial analysts and other experts to find hidden money and assets and expose false valuations or under-reported assets and/or income.
Our Family Courts take a dim view of any attempt to lie, mislead, hide or fail to fully disclose any and all assets. The penalties for doing so are quite severe. Generally speaking, if one party does not make a full or accurate disclosure of all assets, accounts or money the Court must determine if the issue was a mistake or unintentional, or if it was a conscious effort with a disregard for your rights or an attempt to inflict a cruel or unjust hardship.
In either case the penalties are severe. Even an accidental “honest mistake” when an ex hides money or an asset during a divorce in Carlsbad may entitle their former spouse to 50% of the value of the hidden/under-reported asset as well as your attorney’s fees and Court costs.
If there is proof of intent when your ex hides money or an asset during a divorce you will more likely receive an award of 100% of the hidden asset.
In addition to a percentage of the hidden money or asset and attorneys fees and costs Burke & Domercq can request the imposition of sanctions against your ex for their failure to disclose money or an asset. Sanctions are a legal punishment which requires your ex to pay money for failing to fulfill their legal obligations under the law.
This is why it so important to work with the Certified Family Law Specialists at Burke & Domercq. Protect your own interests and contact us or call 760-434-3330 to schedule an appointment for a remote or socially distanced consultation with one of our experienced Certified Family Law Specialists.