Undisclosed assets could impact post-divorce financial future

Divorce is a complex process, especially when there are significant assets and wealth at stake. High-asset divorces often involve disputes and contention regarding the appropriate distribution of wealth, and consequently, one spouse may consider hiding assets. Hidden assets lead to unfair and inequitable final property division orders. 

If you suspect your spouse is hiding assets in order to retain more marital property and keep you from your fair share, you will find it beneficial to take quick action. This is unacceptable behavior that could negatively impact your financial future, and you can fight back. Due to the complexity of New York divorces involving high-stakes property division and hidden assets, you will find it beneficial to work with a legal professional specifically experienced in these matters.

What steps can you take?

You may be unsure of how you can protect yourself or ever be able to prove that your spouse is hiding assets. Fortunately, there are specific options for legal recourse you can take to locate all assets and pursue your fair share of marital property. Some of the steps you may be able to take include the following:

  • One of the first things you can do is to carefully inspect all voluntary disclosures from your spouse. If you suspect that something is missing, or you feel like something isn't right, you can take additional steps.
  • After initially inspecting the voluntary disclosures and determining there is a problem, you can then request involuntary disclosures. This step legally compels the other party to disclose the requested information.
  • There may also be the need to legally depose the other party, which means he or she will have to answer questions under oath. You can use the information from a deposition later in trial, if necessary.

Discovering hidden assets is complex, and it can be a lengthy and frustrating process. It is worthwhile to pursue your fair share, however, as this will impact your stability and security in the future.

Fight for your future interests, today

The decisions and choices you make during divorce will impact your future for years to come. It is beneficial for you to keep your eyes on your long-term interests, not temporary emotions and frustrations. Your future is worth fighting for, and it is always a smart step to secure help as you work through this process. As you consider settlement offers and other options, you may find it beneficial to have the assistance of an experienced legal ally.

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Keith B. Schulefand, Esq.
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