Redondo Beach Hidden Assets Lawyer

Hidden Assets Attorney in Redondo Beach, CA

A Redondo Beach hidden assets lawyer is a valuable resource if you are ending your marriage but believe that your spouse has not been truthful in their financial disclosure. In every California divorce, both spouses are required to provide complete and accurate financial records so that property is divided equally and all other financial matters can be resolved fairly. Hidden assets can lead to various complications and penalties for the spouse who does this.

Experienced Legal Representation for Hidden Asset Disputes in Redondo Beach, CA

Rombro & Manley LLP can provide comprehensive legal representation for a difficult divorce in Redondo Beach, and you can trust us to help if you believe that your spouse has hidden assets from financial disclosure. It’s vital to pay close attention to any signs that could indicate they are fraudulently “adjusting” their finances to secure a more advantageous position in your divorce proceedings, such as:

• Having multiple bank accounts with no explanation.
• Strange business activity, such as suddenly hiring new employees or claiming more expenses than usual.
• Sudden unexplained drops in income.
• Pushing to resolve the divorce as quickly as possible.
• Spending more than they apparently earn.
• Misvalued assets.

According to 2024 Census data, about 9% of men and about 13% of women in Redondo Beach are divorced, and every divorce in California follows the community property rule when it comes to property division. This means the spouses equally divide all marital property, which includes anything earned or purchased by one or both spouses during their marriage.

For property division, spousal support, and other financial issues in a divorce to be resolved correctly, each spouse must submit a complete and accurate financial disclosure statement. This is a collection of financial records, bank statements, and other documents that show each spouse’s total assets and debts. A divorcing spouse may attempt to hide assets in an effort to keep an unfair share of marital property.

How a Redondo Beach Hidden Assets Lawyer Can Help

It’s vital to hire a Redondo Beach family lawyer to help with your divorce, and you can rely on your attorney to assist you with your financial disclosure statement. They can not only verify that you have all the required information, but also determine what you should do if you believe that your spouse has hidden assets. A divorcing spouse may attempt to hide assets from divorce in various ways: 

• They may give large “gifts” or loans to family or friends, with the expectation that they will be repaid after the divorce is finalized.
  
• They may open offshore accounts or otherwise siphon funds from jointly shared bank accounts.
  
• A divorcing spouse may ask their employer to defer bonuses, commissions, or pay increases until after they finalize their divorce.
  
• Some divorcing spouses may overpay creditors with the expectation of collecting refunds following divorce.
  
• Some divorcing spouses may conceal physical assets, such as cash, jewelry, precious metals, or artwork, and not disclose them in divorce proceedings.

If you suspect your spouse has engaged in any such behavior, your Redondo Beach hidden assets attorney can help you prove the truth of the situation. Forensic accountants may help uncover their behavior, and if a divorcing spouse is found to have defied a court order by submitting an incomplete or fraudulent financial disclosure statement, they can face severe penalties, including contempt of court, and they may be liable for your legal expenses.

Ultimately, divorce can be a difficult and complex process even when both spouses submit truthful financial disclosure statements. When a spouse attempts to hide assets, this can not only complicate the process but also generate hostility and resentment. The team at Rombro & Manley LLP can help you resolve a difficult divorce as smoothly as possible, so reach out to our firm today to learn how a Redondo Beach hidden assets attorney can assist you.

FAQs About Redondo Beach, CA Hidden Assets Laws

How Is Property Divided in a California Divorce?

In a California divorce, property is divided under the community property rule. Each spouse keeps separate property, and community property is anything either spouse acquired during the marriage. This can include income earned by either spouse during the marriage, property they purchased together, and debts acquired by either spouse. All community property is divided exactly evenly between the divorcing spouses.

What Counts as Separate Property in a California Divorce?

Separate property in a California divorce typically includes anything owned by a spouse before their marriage, inheritance left solely to them, and gifts they have received. When submitting a financial disclosure statement, a divorcing spouse must clearly identify any separate property they intend to keep. In some cases, separate property may “transmute” into community property if the other spouse helped maintain the property or improved its value during the marriage.

What Are the Penalties for Hiding Assets in Divorce in California?

The penalties for hiding assets in divorce in California may include forfeiting some of the value of the hidden assets to the other spouse, liability for the other spouse’s increased legal expenses, and criminal charges for contempt of court, fraud, and/or perjury. If you suspect your spouse has hidden assets, it is crucial for you to consult a Redondo Beach hidden assets attorney as soon as possible so they can help you prove the truth of the situation.

Why Should I Hire a Hidden Assets Lawyer in Redondo Beach?

You should hire a hidden assets lawyer in Redondo Beach to have a better chance of reaching the fairest possible outcome in your case. Skilled legal counsel can help you prove that your spouse has hidden assets, and they will know how to leverage this in your favor in your divorce proceedings.

The attorneys at Rombro & Manley LLP have years of experience representing clients in Redondo Beach and the surrounding communities of California in difficult divorce cases, and we know how frustrating it can be to discover that your spouse has attempted to hide assets from your divorce proceedings. You have limited time to respond to this issue, so contact us today to schedule a consultation with an experienced Redondo Beach hidden assets lawyer.