Fraud & Hidden Assets

If you think your spouse has hidden assets, we have ways of detecting fraud. Members of our staff at Woodruff Family Law Group here in Greensboro have training in fraud detection methods. Our experienced family law and divorce attorneys have the knowledge and skill to deal with situations in which there has been fraud and one of the parties has hidden their assets from the other party. It is important to have someone with the expertise to deal with these types of situations at your side throughout this process.

Generally speaking fraud and hidden assets concerns tend to arise when one party decides that the marriage is likely over and is considering divorce. This is when it would make the most sense for a party to hide their assets. Typically, fraud and hidden assets are not major issues at the very beginning of a marriage. At the beginning of a marriage, both parties usually do not anticipate that their marriage will ever come to an end. Since neither party is contemplating a future divorce, there is no reason for either party to consider hiding their assets.

Once one party has decided that a divorce is likely imminent, it is at this point that they realize they are going to have to divide everything that has been earned, purchased, or acquired during the marriage down the middle with their spouse. This does not sit well with some people. These types of individuals may feel that it is in their best interests to begin secreting away money or assets so that they will not have to be shared with their spouse. Hiding or concealing assets may also be used a way to punish the other spouse for any perceived wrongs.

Later, when the parties actually separate and file for a divorce, the assets have already been hidden, making the process of distributing the marital property much more difficult. It is difficult to have a fruitful negotiation regarding the division of property when one spouse has no clue about the true extent of the marital assets due to the actions of the other spouse. It is also difficult for a judge to make an accurate division of the property if not all of the property is disclosed in the required inventory affidavits of marital property.

Lying or misleading the other spouse regarding what assets and liabilities you actually have possession of may be considered fraud. Filling out the required inventory affidavits of marital property requires each spouse’s notarized signature. Each party is required to provide a full and fair disclosure of the assets and liabilities. Putting false information or leaving off information from these ED affidavits and then signing them can be fraud.

It is important to be honest and truthful when filling out the ED affidavit, as there can be serious legal consequences for intentionally hiding, concealing, or lying about assets. This is where an experienced family law and divorce attorney can be of assistance. Having a fresh perspective reviewing both your ED affidavit and your spouse’s ED affidavit can catch questionable items that you may miss.

If you believe that your spouse has been hiding assets from you or has committed fraud on his or her ED affidavit, contact us to set up an initial consultation.