HIDING ASSETS

Has your spouse been hiding assets?  If so, what can you do about it?

First, do not let too much time pass after you suspect that your spouse is moving or hiding funds.  The sooner you act, the better, although the law does allow some “claw back” time for such issues.

When assets are moved or dissipated prior to filing for divorce, it can get costly.  Depositions must be taken; records must be subpoenaed from the “not so trustworthy” spouse’s accounts and a private investigator may have to be hired.

These tend to be the most difficult of cases, mostly because of the costs involved.  Most people do not have unlimited resources to properly research what is going on.

Keep in mind that fun vacations cost a lot of money too and we readily spend money on them because they are fun!  We don’t like to spend money on things that are not fun (like taxes and divorce).  However, spending money in a divorce to ultimately protect your assets, your future and that of your children is something you should get your head around because it will be better than just walking away from a lot of money.  Of course, one must always weigh the benefit against the cost, but if there are substantial assets, it will all be worth it.  Hire the right professionals.

Please visit our website for more detailed information at: www.dbtracht.com.  Watch for our future blogs, as we will be posting once a week on different issues! Call us any time for more information over the phone!  We are here to help guide you.