Finding Hidden Assets in an Arizona Divorce
Meticulous Scottsdale law firm investigates for undisclosed financial assets
Hiding assets during a divorce is considered a fraud on the court and may also constitute perjury, which is punishable by jail time. Still, many divorcing spouses lie to their exes and to the courts about the identity and value of personal wealth. The Scottsdale divorce lawyers of Clark & Schloss Family Law, P.C. are committed to finding hidden assets and enforcing full financial disclosure. We are skilled at searching in the U.S. and offshore for money and other property that one spouse may be secreting from another.
Why a spouse would hide assets
Arizona is a community property state. During a divorce, each spouse is entitled to half the wealth accrued by either of them during the marriage, though there does not need to be an exact 50-50 split.
People hide assets in a divorce not only to keep it out of reach of the other spouse but also to minimize the apparent size of a marital estate, so that their ex can only claim half of the smaller number.
Our attorneys carefully review financial records to distinguish community vs. separate property. When our client claims his or her spouse has hidden assets, we look for suspicious incidents where money or other property went missing. We arrange a thorough investigation and take any legal action needed to enforce disclosure.
Common places a spouse may hide assets
Hidden assets may be physical cash, property or money held in bank accounts, trusts, stocks or other financial structures. Common methods of asset concealment include:
- Transferring stocks or other assets to someone else’s bank account
- Moving money into offshore accounts
- Asking a friend or family member to hold money
- Claiming debts for loans allegedly made to friends or family members
- Underreporting income or assets on tax returns
- Overpaying the IRS, thereby depleting cash while obtaining tax credits
- Deferring employment compensation
- Hiding cash in a safety deposit box or physical location
- Investing in antiques, art or collectibles that appear less valuable than they cost
- Buying Bitcoin or other digital currency
We consider the many inventive options your spouse may have used to hide assets and we pursue all channels of investigation to discover possible hiding places.
How to find hidden assets in divorce
People go to extremes to avoid asset detection. It is important that you choose a law firm with the knowledge and resources to conduct a thorough hidden assets search.
Our Scottsdale divorce lawyers start by making a formal request for the disclosure of all assets. If we suspect your spouse has failed to reveal all of their assets, we will use legal tools and outside assistance to search for evidence. We enlist professionals such as forensic accountants and private investigators. Our law firm can request court orders requiring banks, companies and individuals to provide relevant documents or to testify under oath. Each new piece of evidence can help reveal the true scope of marital property that is subject to division.
What happens if hidden assets are found after divorce?
It is possible to recover your share of hidden assets even if they are discovered after the divorce is final. Once you have gathered evidence, you can ask the court to grant a modification of your divorce decree to award you not only a share of the discovered assets but also interest, attorneys’ fees and the additional costs you incurred. However, subsequent litigation is something to be avoided whenever possible. This is why it is advantageous to complete a comprehensive asset search during the divorce.
Contact determined Scottsdale hidden asset recovery attorneys for a consultation
At Clark & Schloss Family Law, P.C. in Scottsdale, Arizona, our legal team helps divorcing clients locate and recover hidden assets. To schedule a consultation with our firm, call 602-789-3497 or contact us online.