Secure Your Fair Share of Marital Wealth
When a couple divorces, they’re tasked with dividing the life they’ve built together. A substantial portion of this division is in asset redistribution.
Texas is a community property state, meaning that assets acquired during a couple’s marriage are to be divided fairly between both parties. If one spouse attempts to shield community property to retain sole ownership, they could face serious penalties.
How Assets May Be Hidden
Spouses can be sneaky in their quest to hide community assets. Oftentimes, one party shields an asset from the other by:
- Claiming to have gifted it to a third party while intending to reclaim the asset after the divorce
- Saying that the asset was lost
- Creating false debt to minimize their apparent wealth
- Claiming to forget that certain assets exist
How Assets May Be Discovered
Our attorney can help you evaluate relevant documents to uncover the truth about your partner’s financial standing. We can search for hidden wealth by:
- Evaluating paychecks and tax returns
- Checking for a sworn inventory and appraisement that accounts for all assets and debts
- Requesting other tangible documents through written discovery
We can help you scrutinize the financial records to search for any uncharacteristic discrepancies.
The Consequences of Hiding Community Property
If the court finds that one party hid community assets or attempted to defraud their partner by defrauding assets, they could inflict harsh penalties. The court may:
- Award the hidden assets to the spouse that they were hidden from
- Find the hiding spouse in contempt of court and order them to repay the innocent spouse for any attorney fees incurred during this discovery process
There is a two-year statute of limitation to rectify any withholding of assets that was discovered after the divorce’s finalization.
Whether you’ve recently discovered substantial assets that your ex previously shielded, or you are suspicious of your soon-to-be-ex’s financial standing, it’s important to seek legal assistance. Our lawyer can help you fight for your fair share of community property.