Forensic Accounting Attorneys
Legal Representation for Hidden Asset Investigation
When facing the eventuality of a divorce, many people make the dishonest choice to hide assets from their soon-to-be ex-spouse in order to avoid losing half of them in the property and asset division process. When assets remain hidden by one party, the other party is robbed of a fair and just divorce settlement. The divorce attorneys of Kezy & Associates are experienced in uncovering hidden assets. Our trusted professionals have successfully identified missing assets and streams of income for our clients, thereby ensuring they are treated fairly when dividing assets.
Uncovering Hidden Assets in Divorce
While anyone can take the necessary steps to hide an asset in order to protect it in a divorce, this is a more common practice in high asset divorces involving complex holdings such as retirement accounts, brokerage accounts, stock options, life insurance, etc. It is also more common when one spouse exercises greater control over the finances than the other. If you are not in control of your marital assets, you may not even be aware something has been hidden from you.
There are several red flags that your spouse may be hiding assets from you in your divorce, including:
- If, in compiling financial records, you discover there are missing documents from certain periods of time. These missing documents may show asset transfers;
- If your spouse’s income dramatically changed when the marriage started to go sour or when the divorce was initiated. A higher earning spouse may attempt to defer income until after the divorce is finalized to avoid sharing it in the settlement;
- If account balances begin to decline for unknown reasons; and
- If your spouse’s expenses appear to exceed his or her income, there may indicate a hidden stream of income.
Forensic accountants possess unique skills and employ a variety of methods to help uncover hidden assets. One technique used in forensic accounting is performing a lifestyle analysis to compare reported income to expenditures. A lifestyle analysis can also compare reported income to net worth at multiple points in time. Forensic accountants also examine individual and business tax returns and financial statements to identify inconsistencies. Our divorce attorneys work with a team of experienced forensic accountants and other financial professionals to uncover assets hidden from our clients.
If you suspect your spouse may be hiding assets from you in your divorce, we can help you find out for sure. Contact us at 708-518-8200 to schedule a free consultation to discuss you suspicions.