Division of marital property is a commonly contested issue in divorce. Virginia law calls for “equitable distribution” of property, which means dividing the marital assets fairly. A court will consider various factors when deciding what is “equitable,” one of those being the monetary and nonmonetary contributions of both spouses. Some spouses try to hide or disguise assets to keep them from being divided with the marital property. How do you find out if your spouse is hiding assets in your divorce?
Finding Divorce Hidden Assets
The first step in dividing marital property is for the spouses to list out all the assets in three different categories:
- Marital property
- Separate property
- Commingled property (separate and marital property mingled together)
If your spouse has not kept you informed of all financial dealings and you do not have access to all financial information, there may be assets you are not aware of. In that case, you can simply ask your spouse for copies of all financial records. However, if your spouse is not forthcoming with those records because he or she is hiding assets, finding those assets could be a challenge.
Discovery to Find Divorce Hidden Assets
The next step is to try to obtain the information through the legal process of discovery. Methods of obtaining information through divorce discovery include:
- Interrogatories and Requests for Admission: Your spouse is legally required to answer the questions (interrogatories) and admit or deny specific statements that you believe are true, in writing.
- Inspection Demands: You may ask to inspect certain property in your spouse’s control, such as a safe deposit box.
- Demands for Documents: Your family law attorney can request that your spouse produce certain documents, such as tax returns, account records, financial statements, and loan applications. If your spouse fails to produce the documents, you may ask the court to order your spouse to produce them. If your spouse does not comply with the court order, you may ask the court to impose sanctions (a penalty, such as a fine).
- Oral Depositions: Your spouse is sworn to tell the truth in front of a court reporter and is required to answer the questions your attorney asks. A spouse who lies under oath during a deposition can be charged with perjury. This may be the incentive your spouse needs to reveal any divorce hidden assets.
Legal Help with Divorce Hidden Assets in Virginia
If you are going through a divorce and suspect that your spouse is hiding assets, your best course of action is to consult with an experienced family law attorney. At Select Law Partners, we have the single-minded purpose of fully representing you. Our family law attorneys are committed to ensuring that your rights and interests are protected.
You are entitled to equitable distribution of all marital assets in your divorce under Virginia law. If your spouse is hiding assets, that deprives you of part of the marital property you are entitled to receive. You can have confidence that we will do all we can to help you discover hidden assets in your divorce. Contact us by telephone or online to schedule a consultation.
Matt Kurylo
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