Category: Hidden Assets
Questions/Answers
What if I suspect that my husband is hiding something?
An agreement is also not valid should there be “fraud in the inducement," that is, certain lies that influenced you to sign the agreement. If this “hiding something" constitutes fraud, your agreement is not valid. For example; your spouse told you that he or she did not have any property interest in the speedboat at his best friend’s lake house. It turns out, after you signed the separation agreement that he owns half the speedboat, and it is worth $20,000. Deception is not a wise move when it comes to separation and/or divorce. The judge will most likely pick up on it and once it is evident, your credibility will be worth nothing in the eyes of the court.
What if my spouse is attempting to hide property?
Often one spouse might attempt to undervalue or disguise a martial asset intentionally with the specific thought in mind of life after divorce. While suspicion and proof of these kinds of activities are two very different entities, there are ways in which to protect yourself. The most prominent counter-measures would be not only to start compiling detailed financial records complete with accurate asset assessments or valuations from the moment the decision to separate is made, but also to hire a specialized professional known as a forensic accountant. A forensic accountant is one who is an expert at tracing properties, evaluating financial reports, and assessing values for businesses and investments. Should things get really ugly, he or she is also one who makes a very good witness in a court of law.