It happens far more often than you would think—a husband or wife unilaterally decides to file for divorce, but doesn’t tell the spouse right away. Instead, he systematically starts to divert assets so that, when the divorce proceeding finally happens, those assets are nowhere to be found. In some situations, those assets may actually end up in offshore accounts. What can you do when you know your spouse is hiding assets?
The first step in getting an accurate accounting and fair property settlement is to bring in an experienced forensic Certified Public Accountant (CPA). A good forensic CPA will know exactly what to look for when examining both personal financial records and business/corporate documents, and won’t be intimidated or challenged if there are a number of business entities. Your forensic CPA will know how to investigate and root out typical diversionary tactics, such as hiding assets through “entertainment” or other vague expenses. The CPA will also be able to identify whether your spouse is intentionally deferring compensation until after the divorce.
If the paper trail leads to other states, which it often does, it may be necessary to retain legal counsel in those states, so that you can file legal documents and obtain court orders protecting your interest in those assets.
Under Texas law, if the court finds evidence that there are assets (including cash) of the marriage that have not been properly accounted for, the court can “reconstitute” the estate and add the value of the missing property to the total amount of the estate. It’s a common strategy, in such cases, for the court to allow the offending spouse to have possession of the “missing” property, but offset the value of that property by giving the non-offending spouse a greater share of the assets that have been accounted for.
Contact the Law Office of Len Conner & Associates
To learn your rights and options in a paternity dispute in Texas, contact our office online or call us at 972-445-1500 (toll free at 877-613-5800). Your first consultation is free of charge.
