In an Ohio divorce proceeding, you must disclose all your assets to each other and the court to either negotiate a divorce settlement that divides the marital estate or allow the court to divide marital property equitably. However, the spouse who holds property that qualifies as a marital asset may try to keep that property rather than splitting it with their spouse by concealing it from the other spouse and the court.
Contact Carpenter Family Law today for a free initial case evaluation with an experienced divorce attorney to learn more about hidden assets in divorce and what steps you can take to protect your financial interests and future when your spouse has concealed marital property from division in your divorce proceeding.
Your spouse may try to hide assets for multiple reasons. They may wish to hold on to specific property or minimize their apparent financial resources, which may affect a court’s spousal support determination. However, hiding assets during divorce constitutes an improper litigation tactic that may open a spouse who hides assets to various consequences, including sanctions imposed by the court or a less favorable equitable division.
Common examples of hidden assets in divorce include:
Hidden assets can have significant legal and financial implications during a divorce case. State law requires spouses in a divorce case to disclose their property holdings and financial interests fully, as some of their property may include marital assets subject to equitable division in divorce. When the court discovers that your spouse has hidden assets in a divorce case, it may impose various consequences for the spouse’s conduct, including:
In rare cases, hiding assets can lead to criminal consequences for a spouse who conceals property from their spouse and the court. For example, your spouse may face criminal charges if they engage in offenses such as bank, wire, or mail fraud to conceal assets. Your spouse can also face perjury charges if they lie about assets while testifying under oath or in a document they sign under the penalty of perjury.
The discovery of hidden assets can also affect the outcome of a divorce case. A court may consider your spouse’s efforts to conceal assets for personal financial gain when deciding matters such as the equitable distribution of the marital estate, spousal support awards, or child custody.
Red flags you should look out for when you and your spouse separate and file for divorce that may indicate your spouse has hidden assets from you and the court include:
When you suspect that your spouse may have hidden assets in preparation for your Ohio divorce, steps you should take to protect your financial rights and interests include:
Prompt action can give you the best chance to identify or track concealed assets. The longer you wait to act, the more challenging it might become to find hidden assets due to the loss of evidence that can help track them down.
Identifying and locating hidden assets can involve a complex and time-consuming process. A high-asset divorce attorney can help you uncover marital assets that your spouse has hidden from you and the court by:
When your spouse hides assets during your divorce, having experienced legal counsel can provide the support and resources you need to demand accountability from your spouse for their actions. Turn to an Ohio divorce attorney from Carpenter Family Law to help you protect your rights and interests when your spouse has concealed assets during property division because:
After you suspect or discover that your spouse has hidden assets during your divorce proceedings, you need experienced legal guidance and advocacy to protect your interests. Contact Carpenter Family Law for a free initial consultation with a knowledgeable Ohio divorce lawyer to discuss your options. We can help you pursue accountability and financial relief for your spouse’s efforts to conceal marital assets from property division in divorce.
