There are many things that you might worry about in a divorce – who will get the family home? How will you cover your expenses without your spouse’s income? How will you share time with your children? One thing you might not consider is that your spouse would try to gain the upper hand financially in your divorce by hiding assets.
Hiding assets can significantly impact how community property is distributed in a divorce. If your spouse is able to conceal some of your shared property or assets from you, those assets might not be at issue in your divorce. This means that you will not get your 50 percent share of the assets that you deserve under California law.
Hiding assets can take many forms, and some of them are difficult to identify. Some ways that someone might conceal assets include:
- Transferring funds into separate financial accounts without your knowledge
- Gifting funds or property to family or friends and receiving them back after the divorce
- Using assets to make large purchases for themselves
- Having offshore accounts
- Deferring income, bonuses, or commissions until after the divorce
If your spouse handled most of the finances, it can be even easier for them to hide assets, and you might never suspect it. A savvy divorce lawyer can investigate and identify whether you are getting cheated out of your share of community property.
Speak with a California Divorce Attorney Today
At Furubotten Law, we know that spouses sometimes engage in fraudulent behavior for an unfair advantage in a divorce case, and we are here to protect your financial rights and future. Contact us to set up a free consultation at one of our offices in Huntington Beach, Long Beach, Murrieta, or Manhattan Beach. Our California divorce attorney can advise you of what to expect from the divorce process and help every step of the way.