There are infinite ways a spouse may be hiding assets during a marriage. From real property and private property to bank accounts, a spouse may have veiled any number of assets by not showing them on the required "financial affidavit" that the Connecticut court uses to consider marital assets.
Hiding assets could be the very reason for many of your marital disputes.
When your divorce is filed in Connecticut, an automatic order preventing both parties from selling, hiding, transferring or otherwise giving away any marital assets without written permission from the other spouse or a court order is established.
Within 30 days of filing for divorce, another important document, the financial affidavit, is required to be filed by each spouse containing a comprehensive list of all your and your spouse's income, assets, debts and outstanding liabilities. Once this signed and sworn document is filed in court, any assets found to be outside this affidavit can be considered fraudulent concealment.
Concealing information about assets and debts in a divorce is unlawful. When you and your spouse complete and sign your financial affidavits, you are also making a sworn statement that the information in the document is correct. There are serious legal consequences for concealing such information, and the judge could order a range of penalties as a result.
If you suspect your spouse is hiding assets, it is best to get your research done before your divorce is final. You can check around your marital home for documents, such as:
- Brokerage statements
- Bank statements
- Past tax returns
- Loan applications
- Safe deposit boxes
- Life insurance policies
Proper asset valuation is key to a fair and equitable division. At Siegel & Kaufman, P.C., we have the experience, resources and skill to move your divorce toward the best possible result for you now and in your future.
We can get the experts, such as forensic accountants, to delve into your asset concealment issue.
At Siegel, Colin & Kaufman, our comprehensive experience includes working with many high-asset divorces that involve nonworking spouses who will need to rely on their divorce settlement in the future.
Our locally known and respected attorneys at Siegel, Colin & Kaufman, P.C. always put our clients first. You may schedule a consultation with a lawyer by emailing us or by calling 203-326-5145. Our flexible office hours in Stamford are another sign of our commitment to serving you.