Does family law protect against hidden assets?

| Nov 8, 2018 | Family Law |

You already know that you and your ex must divide your marital property during a divorce. However, before doing so, you must first disclose and value all of these assets. While you might have dutifully provided all of the necessary information, there is no guarantee that your ex did the same. Unfortunately, hiding assets is not an uncommon family law issue in the state of Michigan.

Hiding assets is about more than your ex “misplacing” a household item or claiming that he or she does not know what happened to a few documents. In many cases, there is systemic scheming to conceal money or items of valuable. This means that a seemingly fair division of marital assets might actually be incredibly one-sided, leaving your ex with far more than he or she is entitled to.

So how do you find hidden assets? If you suspect that your ex is holding out on you, it probably will not be as easy as poking through a few bank records. Here are just a few ways in which individuals try to hide marital assets during divorce:

  • Underreport their income
  • Transfer property to relatives or friends
  • Open secret or offshore bank accounts
  • Secretly invest the money

These are complicated pathways that often require the expertise of forensic accountants to track down. Still, complicated does not mean impossible. With the right kind of knowledgeable help — including that of an experienced Michigan attorney who can work to uphold your rights — it is possible to recover hidden assets and reach a more equitable conclusion to your family law affairs.

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