Hidden Assets Attorney in Rockville, MD
Hidden Assets Attorney in Rockville, MD
Maryland follows an equitable distribution process which means the courts divide marital property equitably, not necessarily a 50/50 share. In going through a divorce, each party discloses a complete list of assets. Trying to hide assets can lead to significant consequences such as paying legal fees.
Despite the risks, people still try to beat the system and shield their assets through different means. If you sense that your spouse is hiding assets, you will need the help of a hidden assets attorney. Suspicion is not enough; you need tangible proof.
At Fait & DiLima, LLP, our attorneys have the training and experience in dealing with these situations and other issues related to high-asset divorces.
Common Types of Hidden Assets
The types of assets commonly hidden during financial disclosure include:
- Undisclosed savings, checking, or investment accounts
- Assets held by friends or family on behalf of the person
- Under-reporting income from any source like employment or business.
- Real estate properties, including land, apartments, and houses.
- Benefits from the employer, including stock options and RSU stocks
There are creative ways not to disclose these assets. Doing a proper investigation is the best way to detect hidden assets of any type.
Signs A Spouse Has Hidden Assets
A gut feeling about your spouse having hidden assets is not enough for any court or judge. If you want to prove it, you will have to find it. There are some signs that your spouse has hidden assets. If you notice any of these, your hidden assets attorney can use it as a starting point for an investigation to find proof. Check for these signs:
- If they have any property transferred to the name of someone they know
- If they accept cash payments at work that do not go through payroll
- A solely owned business can underreport income
- Claims that an asset is lost or never existed at all
- Undervaluing an asset purchased recently.
- Moving money through several financial instruments, including making deposits to an offshore account.
How To Find Hidden Assets During Divorce
To find any hidden assets from your spouse, you will need to go through this process:
- Serve discovery requests for documents about finances, property, and income.
- Follow money trails from withdrawal to transaction. Forensic accountants can help you with that.
- Get your spouse’s business financials to get an accurate audit and valuation of their share.
- Review each financial statement closely. Do not take the numbers at face value. Make sure all the details are accurate.
If you do not know where to start in this process, contact the team at Fait & DiLima, LLP. Our Rockville hidden assets attorney is ready to sit with you to discuss your options.
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Why Choose Fait & Dilima, LLp?
- Decades of Experience – Established in 1979, the firm has over 30 years of experience helping the people of Maryland with family law issues.
- Dedicated Team – Our team focuses on your best interest by giving a personalized approach to your situation. Together, we will work towards your goal.
- Understanding and Empathic – Having handled many family law and divorce cases, our lawyers are empathic and understand your situation well. We know what you are going through and will guide you through the legal process.
How A Judge Views Hidden Assets
A judge will not take proof of hidden assets lightly. Doing that makes the party look vindictive or even have immoral intentions with such behavior. A judge can impose stiff penalties if you or your spouse are caught hiding assets from the divorce proceedings.
Penalties for hidden assets can include a financial reward for the aggrieved party, including payment of all legal fees. It can also further complicate the process.
Value Of A Hidden Assets Attorney
Divorce can seem like a rollercoaster ride. There are so many twists and turns, and everything seems to go by in a blur. All these wheels come alive simultaneously, and you must address them.
The value of a hidden assets attorney is getting proper guidance on how to go about the process. You get help from someone familiar with the law to analyze your situation and offer options on what to do next.
If you are looking for an experienced hidden assets attorney, call or message Fait & DiLima, LLP today to book a consultation.
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When divorce and other family law issues must be resolved, there are no substitutes for an attorney’s experience and dedication to client satisfaction. The Frederick and Rockville divorce lawyers of Fait & DiLima, LLP have more than 50 years of combined experience and an unmatched commitment to help individuals and families navigate challenging times.
Contact the Rockville and Frederick family law attorneys of Fait & DiLima, LLP today to schedule a consultation and discuss your legal needs. Fill out the contact form or give us a call. We have offices in Rockville and Frederick; both are conveniently located near the courthouses.
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