For Sacramento couples with a high net worth, dividing assets in a divorce can be a quagmire of emotion and uncertainty. Couples will fight over which assets are community property and which are separate property. And, one of the thorniest issues is whether one or both spouses have hidden assets.
A skilled divorce lawyer can conduct an effective search for hidden assets by using various forensic and legal tools. For example, a CPA can review financial records of business operations and investment transactions. A banker can review off-shore financial transactions. In the end, the attorney must coordinate the search and present its results in court.
The attorneys at Gary, Till, Burlingham & Lynch are familiar with both the means used to hide assets and how to discover them. Their first task is to review the other party’s financial disclosure forms.
These forms are often used to present a misleading portrait of the other spouse’s assets. If necessary, the records underlying the forms can be obtained through discovery and given to a CPA for analysis.
A second tool is the careful review of all information presented by the adverse party, including tax returns, business plans, financial statements and banking records. If necessary, the adverse party can be questioned and cross-examined in a deposition.
Undervaluing assets on divorce disclosure forms is a common method of hiding asset value. And, our lawyers know when to hire business and real property appraisers to value assets.
Anyone who is on the verge of a divorce in which one or both parties owns significant assets should contact an attorney at Gary, Till, Burlingham & Lynch for an evaluation of the case. A review of the parties’ assets and recommendations for asset searches and valuations.