Finding Hidden Income and Assets
Feb. 3, 2022
In a Pennsylvania divorce, couples are expected to divide marital assets equitably and fairly. Unfortunately, some spouses go to the extent of hiding assets and finances to avoid sharing them with their estranged spouses. Through discovery, divorcing spouses can find any hidden income and assets or get the other party to admit to specific statements. Our experienced Pennsylvania family law attorneys can help assist with the divorce discovery process and help you navigate crucial decisions.
At Luvara Law Group LLC, our attorneys have the expertise, diligence, and resources to help clients navigate the complexities of divorce and property division. As your legal counsel, we can help investigate all financial accounts, joint tax returns, personal and business transactions. Also, our skilled attorneys can seek to uncover any hidden income, property, and other assets and help recover what is rightfully yours. Our firm proudly serves clients across Pittsburgh, Washington, Greensburg, Uniontown, Waynesburg, and New Castle, Pennsylvania.
Division of Assets in Pennsylvania
Pennsylvania is an “equitable distribution” state. Under Pennsylvania divorce law, marital property – assets, income, and debts acquired during the marriage – must be divided equitably and fairly. In a contested divorce, the court will consider the following factors to determine equitable distribution.
The length or duration of the marriage
The age, health, income, and employability of each spouse
Whether either spouse was previously married
The contribution of each spouse to the acquisition, preservation, appreciation, or depreciation of the marital property
Whether one spouse contributed to the training, education, skill acquisition, or increased earning power of the other spouse
The standard of living established by the spouses during the marriage
Whether either spouse will have custody of any dependent minor children
The tax consequences of the property division
Our experienced property division attorneys can help enlighten you about the commonly hidden assets and fight compassionately on your side to protect your best interests and what belongs to you.
Commonly Hidden Assets or Income
Some commonly hidden assets or income before or during a divorce include:
Real estate property
Stocks and bonds
Life insurance with cash value
Supplementary income generated from investments, rentals, or royalties
A knowledgeable lawyer can help uncover any hidden asset and help you make critical decisions.
Uncovering the Truth
Hiding assets and income before or during a divorce are unethical, deceitful, and illegal. If you suspect your partner of committing financial infidelity, you need to communicate with one of our attorneys right away. Attorneys can work together with a forensic accountant and seek to evaluate and investigate:
Complete statements for all of your financial accounts
Joint income tax returns
All personal and business transactions
Any business or personal loans obtained recently
However, it is essential to ensure that you’re only looking in areas you have legal access to. Our attorneys can enlighten you about the divorce discovery process and help investigate financial accounts and transactions that you have legal access to.
The Divorce Discovery Process
The discovery is a formal, legal process in a divorce proceeding to obtain information and documents. Here are some methods to obtain the required information from your estranged spouse during the discovery process:
Request for Financial Documents: Attorneys can request certain financial documents from your partner, such as financial statements, account records, income tax returns, and loan applications.
Request for Answers to Written Questions: Your estranged spouse must provide answers to written questions known as “interrogatories” or “requests for admission.” Your spouse can either answer the questions in writing or admit to specific allegations that you believe are probably true.
Demand an Inspection: Also, you can seek to inspect possessions owned by your estranged partner, such as wine collections or safe deposit boxes.
Give Testimony Under Oath: This involves asking your estranged spouse to give testimony under oath through what is referred to as oral deposition. All parties involved, including you, your spouse, and legal counsels, will be required to appear before a court reporter. Your spouse is required under oath to answer all questions asked by your lawyer.
Our knowledgeable asset division attorneys can explore your available legal options and guide you through every phase of the discovery process from start to finish.
Working with Experienced
Family Law Attorneys
Unfortunately, financial infidelity – lying about income and assets – can make achieving equitable and fair asset division impossible during a divorce. However, trying to uncover your estranged spouse’s hidden income and other assets often present different challenges. Therefore, you must retain one of our experienced divorce attorneys for detailed guidance and protection of your best interests. Our team can seek to protect your legal rights and help you recover your belongings.
If you suspect your spouse of financial infidelity or if you believe that your partner lied about their income and assets, contact us at Luvara Law Group LLC today to schedule a simple case assessment. Our skilled asset division attorneys possess the detailed legal counsel and vigorous representation you need to navigate key decisions in your case. We’re proud to serve clients across Pittsburgh, Washington, Greensburg, Uniontown, Waynesburg, and New Castle, Pennsylvania.