Hermosa Beach Hidden Assets Lawyer

Hidden Assets Attorney in Hermosa Beach, CA

Facing a divorce in Hermosa Beach can be an overwhelming and daunting experience. Even though you know your marriage needs to end, there are emotional and financial implications that can make the process difficult. Hermosa Beach is a highly affluent area, where high assets, such as vacation homes or businesses near the Pier, can be contested in a divorce. A Hermosa Beach hidden assets lawyer is here to help.

Rombro & Manley LLP: Fighting for Your Financial Future

For over 40 years, the team at Rombro & Manley LLP has been fighting to protect the financial future of our clients involved in divorce cases. When your spouse chooses to hide assets, you need a family lawyer who can ensure that all assets are revealed and that the property you are owed in your divorce is secured. We make it our mission to hold your spouse accountable and ensure that every asset shared between you is accounted for and available for a fair split.

Property Division in California

In 2022, California had a divorce rate of 5.88 per 1,000 residents. When these divorces occur, one of the most important issues that must be resolved is the topic of property division. If you think that your spouse has hidden assets from you, it is first important to know how property division works in Hermosa Beach and what items of property you are entitled to.

In a California divorce, there are two main types of property, including:

• Community property. This property includes assets acquired during the marriage, regardless of which spouse actually obtained them. This may include items such as the marital home, a vacation property, vehicles, bank accounts, art collections, home furnishings, shared debts, such as credit cards or mortgages, and personal property.
• Separate property. This property includes any debts or assets that were acquired by one spouse before the marriage. Examples might include a vehicle purchased by one spouse before marriage or debts from student loans. Another form of separate property in California is any inheritance or gift given to one spouse, even if the gift was made during the marriage.

At Rombro & Manley LLP, we are committed to providing all our clients with the comprehensive support they need, especially in situations where a spouse is attempting to conceal assets. We understand that this is a challenging time for you, and we will do everything in our power to uncover the truth and ensure you receive what you deserve.

Common Signs Your Spouse is Hiding Assets

There are several signs to be on the lookout for if you believe your spouse is hiding assets. A few of the most common tactics of a guilty spouse can include:

• Falsely reporting income. Divorcing couples are required to provide correct affirmation when it comes to their income reports in the form of pay stubs, tax returns, or other documentation. If your spouse does so in an improper or inaccurate manner, they are likely being dishonest and hiding assets.
• Making strange loans to family or friends. A spouse may attempt to transfer assets to family members or friends and collect them following the divorce to prevent these assets from being included in the division.
• Overstating their debts. When a spouse makes false claims of their debt-to-income ratio during a property division proceeding, this is a sign that they are hiding assets.
• Transferring marital assets to a separate account. This action is tantamount to stealing during a divorce, as all marital property is subject to an even split under the law.
• Falsely reporting business profits and losses. If you and/or your spouse owns a business, they may try to falsify business records to benefit them in a property division.

FAQs About Hermosa Beach Hidden Assets Laws

How Do You Prove Someone is Hiding Assets?

It can be complicated to try to prove that your spouse is hiding assets. It is vital, in these times, to hire a lawyer and a forensic accountant who can comb through both you and your spouse’s financial records, like bank statements and income tax returns, to uncover any hidden assets.  If you are contemplating divorce, it is imperative that you gather as much of the financial information as you can.

Why Might Someone be Tempted to Hide Assets in Hermosa Beach?

There are many reasons why someone would feel tempted to hide assets during a Hermosa Beach divorce. In certain cases, the individual may simply be doing so out of greed or malicious intent to hurt you financially. Hermosa Beach is an affluent area with a median household income of over $150,000 per year. When more money is involved in a divorcing couple’s assets, the more likely it is that an attempt will be made to hide them.

Can a Prenuptial Agreement Protect Your Assets?

Yes, a prenuptial agreement can work to protect your assets during a property division in a California divorce. It can also help ensure that your spouse is unable to hide assets. Nearly 50% of Americans say they are open to these agreements, and although they have been viewed as unromantic in the past, they can instead offer several layers of protection in the event of a divorce.

Are There Consequences for Hiding Assets During a Divorce?

Yes, there are consequences for hiding assets during a divorce. The individual who is found to be hiding these assets may be ordered to pay all the costs related to the divorce, such as the attorney fees of both themselves and their spouse. They may also lose their rights to community property that was hidden.

Hire a Hidden Assets Lawyer from Rombro & Manley LLP Today If you believe that your spouse may be hiding assets during your divorce proceedings, you need to hire a hidden assets layer from Rombro & Manley LLP as soon as possible.

We understand the challenges of divorce, both emotionally and financially, and are committed to providing you with the client-focused legal counsel and representation you deserve. Contact our Manhattan Beach office to schedule a consultation and discover what our legal team can do.