Uncovering Hidden Assets In A Texas Divorce
A key part of the divorce process in Texas is property division. In Texas, divorce assets are divided according to the community property laws of the state. You cannot divide assets properly, however, when they are being hidden.
Hidden assets can jeopardize the property distribution process and affect your entire future, so it’s important to know your options if your spouse is hiding assets. At Izzo & Associates, PLLC, we have been helping our Austin clients get fair settlements in their divorces for more than 20 years. Our lawyers take a results-oriented approach and aim to win.
How To Find Hidden Assets In A Texas Divorce
Both parties in a divorce are required to provide full financial disclosures. Often, a careful review of their bank statements, tax returns, investment portfolios and other financial documents will show discrepancies or unusual transactions that can indicate hidden assets. Hidden assets in divorce are also common in situations where one spouse owns or is a partner in a small business.
Some tactics that can help uncover hidden marital assets include:
- The use of a forensic accountant: These professionals can examine complex financial records, identify irregularities and trace the movement of money and assets.
- Professional valuation services: This can help identify if a business or its assets are being purposefully undervalued to minimize losses during a divorce.
- Examination of lifestyle: Discrepancies between a spouse’s reported income and their extravagant lifestyle are often clear indicators that they are hiding assets.
An experienced Austin divorce lawyer can depose financial professionals, business associates and others who may know where money and assets have been hidden.
Find Hidden Assets Today
If you are facing a divorce in Austin, Williamson County or any other Central Texas location, it’s important to seek legal guidance. We can help you uncover hidden Texas divorce assets and obtain the divorce settlement you deserve. Call us today on 512-982-1161 or reach out online to discuss your case. We even offer free initial consultations by phone.