What to Do if You Suspect Your Spouse Is Hiding Assets from You

 Posted on October 09, 2020 in High Asset Divorce

It is not uncommon in marriages for one spouse to handle a majority or all of the couple’s finances while the other spouse has little to no input on these matters. Family law attorneys and psychologists have a specific term to refer to the spouse who has little say in financial matters: the “out-spouse.” When you are the out-spouse, it can be fairly easy for your partner to hide assets or other property in an attempt to keep more than his or her fair share of the marital estate during divorce. Part of the divorce process is dividing your marital assets so that you and your spouse each get your fair share. To ensure your property is divided fairly, you have to have at least some idea of what your financial situation looks like, which is rarely the case if you are an out-spouse.

The Discovery Process

If you suspect your spouse is hiding assets from you, chances are he or she will not be willing to come forward and reveal those assets and financial records willingly. During your divorce, your attorney will attempt to obtain this information through what is known as the discovery process. This process is a way that your attorney can formally ask your spouse for financial records. The court can take further action in pressuring your spouse to provide the required information if he or she remains uncooperative.

The basic steps of the discovery process include:

• Request for documents: Your attorney will ask for access to certain documents, which can include tax returns, bank statements, income statements, loan applications, or any other information that may be necessary to obtain a complete picture of your family’s finances.
• Interrogatories and requests for admission: These are ways your attorney can get your spouse to produce certain information. Interrogatories are written questions about certain topics that your spouse must answer, while a request for admission seeks to have your spouse either confirm or deny a specific piece of information.
• Depositions: If your spouse still has not complied and refuses to provide you or your attorney with the information that was requested, you can request that your spouse be sworn in and be required to give his or her testimony under oath. This is similar to an interrogatory, but since it will be answered under oath, your spouse could be charged with perjury if he or she is not truthful.

Put an Aggressive Austin Complex Asset Division Attorney on Your Side

If you are going through a contentious divorce, you know how difficult it can be to get your spouse to cooperate during the asset division process. If you believe that he or she is hiding assets or income from you, you should get in touch with a hardworking, experienced Austin, TX divorce litigation lawyer. At Powers and Kerr, PLLC, we have more than 50 years of combined family law experience and have dealt with many cases involving hidden assets and income. To have one of our attorneys evaluate your case, call our office today at 512-610-6199 to schedule a confidential consultation.

Sources:

https://www.forbes.com/sites/catherineschnaubelt/2019/03/08/finding-hidden-assets-in-a-divorce/

https://divorceandyourmoney.com/blogs/divorce-discovery-process/