Division of assets is one of the biggest challenges in a high-asset divorce. When there is much money at stake, things can get a little tricky. Each party will want what is rightfully theirs, so one may consider hiding a fortune to protect their wealth after the divorce.
Hiding financial information may be considered perjury. It may also cause further consequences during the divorce. If you see some red flags, here’s what you can do to uncover the truth.
Take advantage of the discovery process
Your attorney can guide you through this process, which compels your spouse to supply financial information. Once you receive the financial disclosures, you will be able to investigate them for any red flags showing that your spouse is hiding something. You may also send written discovery requests, such as interrogatories and requests for disclosure and admissions, to request further information.
Hire a forensic accountant
Your attorney can recommend hiring a forensic accountant for further investigation. These professionals can use their skills in accounting and auditing to trace and find where the money went. They can even uncover money laundering and fraud by supplying expert testimony and evidence in court.
Undergo an oral deposition
This is another way to gather information if your spouse is dishonest. Lying under oath can result in perjury charges, which can pressure the other party to tell the truth. Preparation for a deposition is crucial, and your attorney must phrase the right questions strategically to get the answers that you need. The information obtained from the discovery process and forensic accountant can help formulate these questions.
Uncovering hidden wealth in high-asset divorces requires careful planning and execution. Following these steps can increase your chances of obtaining a fair settlement and protecting your financial interests.