In our blog we will try to provide you with general information regarding family law, as well as updates in important cases and statutes dealing with family law in New Hampshire. This is not to be construed as legal advice. Every case is unique and small facts can make a difference.
I Think My Spouse Is Hiding Assets. What Should I Do?
In the event of a divorce, one of the most complex issues that arise is the division of marital assets. Division of assets becomes complicated because determining the monetary value of a specific asset often requires expert testimony. For example, evaluating how much money the interest of a minority shareholder in a valued corporation is worth, or even the market value of a doctor’s or dentist’s private medical practice, will require testimony of an expert. Furthermore, the fair division of assets can become even more complex if one spouse is not forthright about the value or location of some assets.
A New Hampshire divorce in which the marital estate possesses high assets, the hiding of assets is of particular concern. Frequently, one spouse will have exercised control over the finances of both parties for many years, if not decades, and the second spouse is unaware of the full extent or nature of their marital assets. In this scenario, it is not difficult for a trusting, former spouse to be “snowed” by their former partner.
Particularly in the event of sizable marital estates, both parties can potentially overlook an asset (or even multiple ones) due to the absence of proper preparation. In other instances, the failure to divulge assets cannot be explained by this innocent oversight. Other explanations have far more devious reasoning behind them.
When a couple is facing an imminent divorce, sometimes, one party will go to considerable lengths to retain what they believe to be their assets or monetary funds. Sadly, in the New Hampshire courts, it is not uncommon to see a party attempt to conceal the existence of annuities, bank accounts, insurance assets, or other similar items that hold monetary worth. For example, a party might opt to temporarily “transfer” an asset to a “friend” in an effort to avoid detection. Specific assets, like cash incomes, are simple to transfer, and it is difficult to detect such transfers.
In a scenario where you have suspicions that your spouse is concealing assets, it is important to retain the services of an experienced New Hampshire divorce lawyer, who can offer information on the different methods that are available for searching for hidden assets. Particularly in the event where minor children are involved, it could have a significant outcome on your case, including your family’s financial well-being.
Here, at our law firm, our NH divorce attorneys have enjoyed great success in uncovering hidden assets, including those that may have been hidden for decades. At the other end of the spectrum, we have also successfully represented individuals who have been falsely accused of concealing assets by suspicious and vengeful spouses. Our NH divorce lawyers maintain an extensive network of professional financial experts and investigators with whom we closely work to offer our clients targeted guidance when confronted with the complex issue of hidden assets.
For a free consultation regarding your case, please contact one of attorneys. Time is of the essence, and your future financial well-being is at stake.
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