Going through a divorce can be challenging, but when you learn that your spouse is hiding assets, it can make it even more distressing. If you suspect your spouse is not being truthful about their finances, seeking legal help is a vital step toward protecting your future.
At ACW Law, we understand the emotional and financial strain this situation creates. Our firm brings years of focused family law experience to help clients uncover the truth and fight for a fair settlement. What sets us apart is our commitment to direct and honest communication, as well as a practical approach to resolving family law disputes. Call our firm for legal guidance through the property division process in Lincoln, Nebraska, and throughout Lancaster County, Gage County, Saline County, Seward County, Otoe County, Cass County, and Saunders County.
Why Spouses Hide Assets
When a marriage ends, one spouse might be tempted to hide assets to prevent them from being divided. This is often driven by anger, resentment, or a desire to gain an unfair advantage in the divorce settlement. They may feel they earned the money themselves and shouldn't have to share it, or they might be trying to punish their partner.
Common tactics include undervaluing property, failing to disclose certain accounts, or temporarily transferring money to a friend or family member. Regardless of the reason, this behavior is a serious breach of trust and has significant legal consequences. It undermines the entire principle of a fair and equitable division of marital property.
Common Ways Assets Are Hidden
Uncovering hidden assets requires knowing where to look. Some methods are simple, while others are more elaborate. Being aware of these common tactics can help you spot red flags.
Financial Tricks and Tactics
A spouse might try several financial maneuvers to conceal money. They could open new bank accounts without your knowledge or use a business to hide personal funds by paying fake salaries or creating false expenses. Another tactic is to overpay on credit cards to build a large credit balance that can be accessed as cash after the divorce is final.
Some individuals might delay receiving bonuses, stock options, or commissions at work until the divorce is complete. They might also purchase items like art, antiques, or cryptocurrency that are difficult to trace and value. These actions are all designed to make their financial picture look less robust than it actually is.
Where to Look for Clues
If you suspect your spouse is hiding assets, there are several places to look for evidence. Start by reviewing financial documents you have access to, such as bank statements, tax returns, and credit card bills. Look for unusual withdrawals, unexplained transfers, or purchases that don't make sense.
Pay attention to any mail from unfamiliar financial institutions. If your spouse suddenly becomes secretive about their finances or changes passwords on shared accounts, it could be a sign that something is wrong. Trust your instincts. If the numbers don't add up or your spouse's lifestyle doesn't match their declared income, it's worth investigating further.
The Process of Uncovering Hidden Assets
Finding hidden assets is not something you should do alone. A family law attorney can use formal legal tools to conduct a thorough investigation. This process, known as discovery, allows us to request financial documents, ask direct questions under oath, and trace suspicious transactions.
We can issue subpoenas to banks, employers, and other financial institutions to obtain records that your spouse may not have provided voluntarily. We may also collaborate with forensic accountants who specialize in analyzing financial data to identify inconsistencies and uncover concealed funds. These professionals can examine business records, track cash flow, and value complex assets to create a comprehensive picture of the marital estate. This systematic approach allows us to present clear evidence to the court and advocate for a fair outcome on your behalf.
Nebraska Laws on Hidden Assets in Divorce
In Nebraska, the law is clear: both spouses must provide full and honest financial disclosures during the divorce process. This process is fundamental to achieving an "equitable distribution" of the marital estate, which includes all assets and debts acquired during the marriage. Equitable does not always mean a 50/50 split; instead, it means what is fair and just based on the circumstances of the marriage.
When a spouse intentionally hides assets, they are violating these disclosure rules and committing fraud against both their partner and the court. If this deception is discovered, the court has the authority to take corrective action. Under Nebraska law, a judge can award a larger portion of the marital assets to the wronged spouse as a penalty. In some cases, the court may grant the entire hidden asset to the innocent party.
Furthermore, the spouse who concealed the assets may be ordered to pay the other party's attorney's fees and court costs incurred in the search. The discovery of hidden assets can also reopen a divorce decree even after it has been finalized, if new evidence of fraud comes to light. The courts in Nebraska take financial dishonesty very seriously to maintain the integrity of the legal process.
Family Law Attorneys in Lincoln, Nebraska
At ACW Law, we are here to help you with family law issues and protect your rights and best interests. Our attorneys are well-versed in Nebraska family law and dedicated to offering thorough, compassionate legal support. We focus on securing fair property settlements that reflect the complete financial picture and comply with state law.
Our team provides personalized legal services tailored to your unique situation, offering the current and relevant advice you need during this challenging time. Call us for family law support in Lincoln, Nebraska, and throughout Lancaster County, Gage County, Saline County, Seward County, Otoe County, Cass County, and Saunders County. Call now to schedule a consultation.
