What Should I Do if My Spouse is Hiding Assets?
Hiding assets in anticipation of and during divorce is not lawful in Pennsylvania if it’s done with the intent to defraud. However, your spouse may get away with it if you do not immediately retain an experienced Harrisburg asset distribution attorney from Purdy Law Office, LLC.
Common Reasons to Hide Assets Before Divorce
Lying about income and hiding assets, especially when your marriage is failing, is a common tactic used to reduce spousal support, child support, and marital property rights. This often occurs when your spouse works in a cash-based industry or transfers assets to a close family member in anticipation of divorce. In some cases, a spouse may literally hide investments overseas or other tangible but unliquidated assets.
The goal is often to prevent you from obtaining your fair share of marital property, defined as any property obtained by either spouse during the marriage and any increases to non-marital property during that time, or to reduce child and spousal support calculations. Either way, this is a serious civil offense that can rise to the level of fraud in Pennsylvania.
Options if Your Spouse is Lying About Income or Assets in Harrisburg
If you know or suspect your spouse is hiding assets, take the following steps to protect your rights:
Retain Legal Counsel
Hiring an attorney is the key to preventing major divorce fraud if your spouse is hiding income or property. The longer you wait to retain a divorce lawyer with experience tracing assets, the more likely it is that those assets will disappear. This is especially true if a spouse transferred certain funds or property – such as the deed to a summer home – to a third party. This may drastically impact your property rights.
Gather Documentation
In many cases, one party will hide or transfer assets before blindsiding you with a divorce petition in an attempt to subvert the family law system. This may be unlawful, but documentation is key to proving your claims. Begin gathering everything you can relating to the hidden assets, including:
- Bank statements
- Affidavits (sworn statements) from co-workers, family, and neighbors
- Receipts
- Tax forms
- Income statements
- Deeds and titles
Even photographs of expensive items, such as clothing and jewelry, your spouse could not otherwise afford with his or her claimed income level might help prove your claims.
Ask the Court for Help
If you have trouble obtaining these documents, especially from financial institutions or in-laws, an experienced Harrisburg divorce lawyer can petition the Court of Common Pleas for assistance. The court may issue subpoenas to third parties with information about your spouse’s assets and demand they produce documentation or provide testimony. Failing to do so or providing false testimony is punishable both civilly and criminally in Pennsylvania.
Call an Experienced Asset Tracing Law Firm in Harrisburg
Do not be afraid to use the courts to your advantage. A qualified Harrisburg divorce lawyer from Purdy Law Office, LLC might even demand the court award you attorney fees from the other party for these added expenses. It’s essential to contact us immediately if you suspect your spouse is hiding assets in anticipation of divorce. Call 717-674-2885 to schedule a family legal consultation or contact us online today.