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High Asset Divorce: Hidden Assets
The starting point for the division of Property is 50-50, but one of the spouses may be tempted to try to hide Assets to keep even more. In a High Asset Divorce some of the entities involved can often be quite complicated when you attempt to assign valuation and although it’s unethical and illegal, some spouses still attempt to obscure the true value of certain assets to diminish their financial exposure.
For example, a doctor with her own medical practice or the owner of a family business has the ability to use those businesses to hide income and other marital assets, and because the spouse generally has a disadvantage with regard to the inner workings of the finances of the business or practice, the spouse may be unclear as to of the other’s real wealth.
Assets can be hidden in a variety of creative ways and at the Marks Law Firm, we have years of experience working with forensic experts in accounting and valuation who know exactly how to discern whether assets have been hidden and the value of those assets.