Whether driven by greed or revenge, some spouses are less than forthcoming about their assets in divorce proceedings. If you suspect that your soon-to-be-ex partner is hiding assets, there are legal tools available to help you uncover them.
California Property Division Explained
All divorcing couples must divide their marital assets and debts, no matter where they live. However, the manner in which they are split depends on the state they reside in. California is a community property state, meaning all property acquired during the marriage is owned equally by both parties and divided 50/50 unless a prenuptial agreement states otherwise.
Some become frustrated by the thought of sharing half of everything and attempt to hide certain assets. This is especially common among high net worth individuals who have a lot to lose. However, doing so can backfire.
Uncovering Hidden Assets
You can ask your spouse for their financial records, but they may be reluctant to disclose that information voluntarily if they are hiding assets. Your attorney will then need to use a formal, legal process, known as discovery, to get the documents. There are several methods of obtaining this information, including the following:
- Document demands
- Inspection demands
- Testimony given under oath
The discovery stage is a good way to get financial information from an uncooperative spouse because the court has the power to compel compliance. Disobedience can lead to sanctions, and lying under oath can result in perjury. Your spouse may reveal the truth to avoid the consequences or give you the information that you need.
Hire an Attorney With a Financial Background
Your attorney’s priority should be to ensure that you receive a fair and equal share of property in the divorce. At Dan McCandless Law, our lead attorney offers a unique advantage to his clients regarding their financial situation. He has in-depth knowledge from spending nearly a decade in the financial industry before attending law school and uses his experience to help clients with property division concerns.
Contact our La Jolla property division lawyer today at (858) 266-9171 to set up your consultation.