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HIDDEN ASSETS |
In California the penalties are severe for hiding assets. The famous case was a wife who decided, during the divorce process, that she would hide the fact that during the marriage and with community funds purchased a lottery ticket and won millions.
The court forced her to give up all of her winnings and a lot more. Thus, she got nothing was penalized for attempting to defraud her spouse.
Hiding assets is a fraud on the other spouse and on the court. If one of the spouses is found to have hidden assets the court will usually make an order that the defrauding party get no part of the hidden asset will award, attorney fees, costs, expenses and possible punitive damages.
Remember, marriage is a partnership and each have an equal right to all community assets.
Finding assets is best accomplished by hiring a private investigator or a forensic accountant who will search DMV records, county recorder records, bank records, stock brokerage companies and other experts who know where and how to search for assets.
This process is expensive and before done must be economically feasible.
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