Are you concerned about attempts to hide money or assets in your divorce case in Shepherdsville, Mount Washington, Shelbyville, Taylorsville, Radcliff, Elizabethtown, Jeffersontown or Louisville, Kentucky? Does your experience of your spouse include consistent deception, lying, betrayal or even simply cheating on your taxes every year?
It may surprise you to learn that spouses owe each other an important legal duty known as a “fiduciary duty” from the moment they are married until the moment their divorce is final. A fiduciary duty to a spouse is the responsibility, under law, to make decisions and act in a way that is in that spouse’s best interests in all matters including money matters in a divorce.
Part of the divorce process in Bullitt, Hardin, Spencer, Shelby, Oldham and Jefferson counties is the responsibility to provide a comprehensive, accurate, detailed disclosure of any asset or debt of the couple or the spouse in a full and transparent manner. This should be a comprehensive list of every financial account, retirement account, pension, checking account, savings account, credit account, credit card, mortgage, car loan, payday loan or debt as well as a list and description of all assets including the family home, a business, 401(k), collections, jewelry, real estate, cash on hand, coins or vehicles. Everything.
How Will a Divorce Court Handle Attempts to Hide Money or Assets in Your Divorce?
Our Family Courts deal firmly with a spouse who attempts to hide money or assets in your divorce. Family Court Judges in Kentucky have applied heavy penalties, sanctions and awards against those who lie to the Court or purposefully try to hide money or the real value or extent of assets or debts.
My name is John Schmidt, and after more than 20 years of experience with these issues in divorce cases I can tell you it does not go well with a person who is dishonest with the Court. If your spouse has been consistently dishonest in their financial dealings, taxes or their relationship with you we need to know about it. There is a lot we can do to make sure you achieve a fair and full disclosure of all assets and debts and an equitable division of all marital property in your case.
It is absolutely possible for a forensic accountant to go through tax returns, W2’s and even business records to identify and document misrepresentations and outright financial lies. Electronic records are extensive in any financial medium or account these days. Activities leave a trail, and it is genuinely possible to uncover your spouse’s attempt to hide money or assets in your divorce.
The penalties for financial dishonesty and a breach of fiduciary duty in a divorce can be severe. Any attempt to hide money or assets, manipulate business income or financial records, or even unwise spending can result in substantial financial sanctions and negative impact to a lying former spouse during marital property division.
We are here to protect your interests and accomplish your goals for your divorce. If you have concerns about the honesty of your former spouse in a divorce you need the representation of the Law Offices of John Schmidt & Associates, PLLC.
We invite you to contact us via e-mail, schedule an appointment or call us today at (502) 509-1490 to get answers to your questions and to learn more about your unique circumstances and how to protect what is most important to you in your family law case.
