Logo
Day & Evening
(718) 878-6886

How Do I Know If My Spouse Is Hiding Assets in a Divorce?

Posted on : April 29, 2019, By:  Mary Katherine Brown
Brooklyn Divorce Lawyer, Mary Katherine Brown

Both New York State and Federal Law apply to divorce proceedings in Brooklyn, so it will be necessary to disclose your income as well as any financial assets that you may have. If you have a prenuptial or postnuptial agreement in place, it will indicate which assets you had when you entered into the marriage. Both parties are obligated to disclose income, assets, and liabilities as well. Here’s what you need to know about the penalties for failure to disclose any assets and how to find out if your spouse is hiding assets in your divorce.

Penalties for Hiding Assets in a New York Divorce

Some spouses will attempt to hide assets or inflate debt obligations to keep from having to split them fairly with their spouse during the divorce. New York is an equitable distribution state, so any assets acquired during the marriage are required to be distributed not necessarily equally, but equitably, which takes into consideration income, assets and future earning capacity for both parties as well as child-rearing expenses.

If the divorce court discovers that you or your spouse are hiding assets in your divorce, you could:

  • Face charges for perjury or fraud
  • Be held in contempt of court, and potentially incarceration.
  • Have the court award your spouse a larger share of the marital assets

How to Check If Your Spouse Is Hiding Assets

Even if you don’t believe that your spouse would hide assets during your divorce, as a precaution, it’s important to be vigilant. If you suspect that your spouse may be hiding assets, it is critical to collect as much information as you can for your attorney.

Here’s how to find out if your spouse might be concealing assets:

  • Regularly check your bank accounts. Check for unusual transactions like loaning money to a friend, cash gifting circles,  or transferring funds to a bank account in another name.
  • Stay vigilant about your spouse’s earnings. Are they missing a bonus they would have normally gotten or if they run their own business, are they paying a new employee who you don’t know?
  • Be alert if your spouse has made any large purchases. A vacation property, antiques,  fine art, new car or even an expensive watch can be sold after the divorce for cash.
  • If you are still cohabitating, physically check areas of your home for any trace of financial documents related to financial accounts that you may not have been aware of.

Contact Brooklyn Family Divorce Lawyer Mary Katherine Brown

If you’re involved in a divorce, you need strong legal advocacy on your side. At Brooklyn Family & Divorce Lawyer Mary Katherine Brown, we can help you determine if your spouse is hiding assets and help you get the fair settlement you deserve after your divorce. Call us now for a consultation.

Posted in : Uncategorized ,

What Our Clients Say

Brooklyn Family & Divorce Lawyer MKB
4.7
Based on 26 reviews
powered by Google
Sasha Badillo
Sasha Badillo
19:19 30 Mar 20
Mary Katherine was exceptional during my custody agreement. She helped me avoid a long court battle with my ex and ensured me of all my concerns. Very knowledgeable and understanding. Would recommend and use her again if needed.
Elaine Ashe
Elaine Ashe
01:43 10 Mar 20
Mary Katherine Brown was a delight to work with these past months. I had an issue come up for Brooklyn Family Court and wanted to retain an attorney instead of handling on my own. I researched some reviews and found Ms. Brown. She is very organized in her thoughts and plans, as well as, very professional in the court environment. I relayed my concerns on some particular issues and she promptly took down notes and handled them immediately with my ex-husband's attorney. Her strategies are well thought out and her advice is invaluable. Ms. Brown made me feel comfortable from our first conversation and throughout our contact. I would like to add her office staff, specifically, Mariana was a pleasure to work with. She always tried her best to accommodate my schedule when securing time with Ms. Brown. Mariana is very professional and respectful. I highly recommend Mary Katherine Brown (Brooklyn Family & Divorce Lawyer) for your family's legal needs. She's fantastic, brilliant, competent, resourceful and overall an attorney you want to have to work for your issues. I am very thankful I found her and decided to retain her for my legal concerns. Mary Katherine Brown is absolutely wonderful!
Nadya Appley
Nadya Appley
19:01 03 Mar 20
Mary Brown represents the highest level of expertise in Family law and provided me with a valuable piece of advice regarding my legal matter (custody of my son). Thank you, Mary, for your knowledge, responsiveness and a great consultation that was scheduled in a timely manner!!!
David Bellel
David Bellel
16:31 03 Mar 20
Mary Katherine Brown and her staff are very professional. Ms. Brown has given me excellent advice and I highly recommend her!
Alonzo Andrews
Alonzo Andrews
02:11 03 Mar 20
Miss Brown represented me in several cases while clearly explaining the situations and presenting all of my available options to me before giving her recommended plan of action. Some of my issues involved my parental rights that she worked diligently to resolve. Her office is professional and friendly, which is greatly appreciated when dealing with the stress of court. She’s the best attorney I have ever worked with and I recommend her to anyone dealing with a Divorce and Family Law case.
MARIE SONKO
MARIE SONKO
18:25 02 Mar 20
I had an in person consultation with Ms. Brown. She answered most of my questions and gave me sound advice.
Lee Moore
Lee Moore
02:08 27 Feb 20
Exceptionally prompt, personal, knowledgeable & practical service.
Andrew Kruger
Andrew Kruger
04:28 30 Jan 20
$500 for first consultation. If you do not agree... they go right to $250 What a jock.
Alla Ozersky
Alla Ozersky
19:34 23 Aug 19
I hired this firm to resolve my custody relocation case after previous attorney almost ruined it. Not only did Ms Brown successfully resolved this case, but she also provided useful information and explanation for her strategy, provided emotional support and answers to my multiple questions, not to mention very reasonable and fair pricing.
Ben Harel
Ben Harel
23:01 13 Jun 19
Ms. Brown is outstanding. She specializes in family law and understands how to navigate the courtroom process to get you the best possible outcome. Highly recommend.
susan davidson
susan davidson
18:26 12 May 19
Ms Brown, is an Extraordinary person, she’s calm, very professional, has a wonderful personality easy to work with and always has your best interests in mind. She handed my “nasty” divorce in such a calm and professional way that it shocked me and the opposing side. She doesn’t talk too much or annoys the judge but when she does it is right on point. I highly recommend this amazing person. I can be grateful enough to Ms Brown.
NYCTechZone
NYCTechZone
17:10 02 Jan 19
Excellent service. Very professional and hassle free.
Mariana Peniche
Mariana Peniche
17:43 12 Nov 18
Yair Oded
Yair Oded
19:00 07 Nov 18
It was recommended to me that I get in touch with Mary Katherine through an acquaintance who works in the field. I can confidently say it was one of the best decisions I had made. I went through a complicated separation process and custody battle over my two year old son; my case was extremely challenging and before I retained the services of Mary Katherine it seemed as though all was lost. Mary Katherine and Eoin O' Mahony worked tirelessly on my case and managed to guarantee my access to my son and reach an agreement that protected my relationship with him and secured my status as his father. They did so with the utmost of professionalism, compassion, and generosity. I truly cannot recommend her warmly enough.
Iqra Yaqub
Iqra Yaqub
10:20 28 Apr 18
Christine David-Fortune
Christine David-Fortune
12:38 23 Mar 18
If you are looking for an attorney who would listen to your concern and tirelessly work with/for you to get results then Mary Katherine Brown is who you are looking for. She promptly addressed my concerns and kept me informed throughout the process. At the end she produce results I am happy with. Thanks again Counselor!
Jeremiah Thompson
Jeremiah Thompson
16:53 26 Jul 17
Mary Katherine Brown is one of Brooklyn's top divorce lawyers
See All Reviews