Imagine discovering that your spouse secretly owns a vineyard—something you had no idea about during your marriage. This could dramatically change the landscape of a divorce settlement.
At Turner-Monahan, PLLC, we understand the complexities of such situations. Our experienced divorce attorneys are here to guide you through every step, ensuring that all assets, whether disclosed or hidden, are considered in the divorce process.
For personalized advice, please contact Attorney Tyler Monahan, partner at Turner-Monahan, PLLC, to discuss your case.
The Significance of Full Disclosure in Divorce
In Texas, both parties in a divorce are required to disclose all their assets and liabilities. This full disclosure is crucial for fair division under Texas’s community property laws. When assets like a previously undisclosed vineyard come to light, it can significantly affect how assets are divided.
Community Property and Division of Assets
Texas is a community property state, meaning all property acquired during the marriage is considered jointly owned by both spouses, regardless of whose name is on the title. In divorce, the goal is to divide the community property equitably, which does not necessarily mean “equally.”
If a spouse hides assets, they are not only jeopardizing the fairness of the marital asset division but are also acting against the law. Texas Family Code § 7.001 states that the court shall divide the estate of the parties in a way that the court deems “just and right.” When hidden assets are discovered, courts can reevaluate how assets should be split to ensure the division is equitable.
Legal Recourse for Hidden Assets
Discovering that your spouse has hidden assets can be dealt with through several legal approaches. A spousal maintenance attorney or a divorce asset split lawyer can file motions to compel the entire disclosure of assets. Courts may also assign penalties or a more favorable division of assets to the non-offending spouse.
Investigating Hidden Assets
In Texas, attorneys utilize various legal techniques to uncover hidden assets during divorce proceedings. These techniques are designed to ensure full transparency and fairness in the division of marital property.
Depositions
Depositions involve questioning a spouse under oath. This legal procedure allows attorneys to obtain sworn testimony, which can reveal discrepancies or undisclosed assets. Under the Texas Family Code, deposition testimony can be a crucial piece of evidence if the case goes to court.
Interrogatories
Interrogatories are written questions that the opposing spouse must answer in writing, under oath. These are used to formally request the disclosure of assets, liabilities, and other financial information. Texas Rules of Civil Procedure Rule 197 provides the framework for submitting and responding to interrogatories in family law cases.
Document Demands
Requesting documents is another critical method for discovering hidden assets. Attorneys can ask a variety of financial documents, including tax returns, bank statements, and property ownership records. This request is legally backed by the Texas Rules of Civil Procedure, which allow for the discovery of any document that is relevant to the case.
Forensic Accounting
When more complex asset investigations are necessary, such as when a spouse is suspected of hiding assets or falsifying financial information, forensic accountants may be employed. These professionals specialize in examining financial records and can trace irregularities that suggest the existence of hidden assets. The findings from forensic accounting can be used as evidence in court to argue for a fair division of assets.
In Texas, the Family Code and the associated procedural rules provide the legal basis for these investigative techniques, ensuring that each party’s financial obligations and rights are respected and enforced during divorce proceedings. If you suspect hidden assets in your divorce case, consulting with a skilled family law attorney can help you navigate these legal avenues effectively.
Role of Prenuptial and Postnuptial Agreements
Prenuptial agreement lawyers and postnuptial agreement services play a significant role in handling cases involving hidden assets. These agreements can define what happens to assets discovered after the agreement is signed, providing a clear path during the divorce proceedings.
What to Do If You Suspect Hidden Assets?
If you suspect that your spouse is hiding assets, it is essential to contact an affordable divorce attorney near you. At Turner-Monahan, PLLC, our family law attorneys are adept at navigating the complexities of such cases. We offer free consultations to help you understand your rights and options.
Discuss Your Case With Turner Monahan, PLLC: Your Advocates in Difficult Times
At Turner-Monahan, PLLC, we pride ourselves on our dedication to serving our clients with integrity and professionalism. Discovering hidden assets can complicate divorce proceedings significantly, but our experienced team is here to ensure that your interests are protected. Whether you are dealing with a straightforward or a contested divorce, our best divorce attorneys are committed to achieving a fair outcome that respects your rights and goals.
If you find yourself in a situation where hidden assets come to light, remember you have legal rights and options. Contact Turner-Monahan, PLLC, today to discuss how we can assist you through this challenging time and ensure that all assets are fairly considered in your divorce proceedings. Schedule a free, no-obligation consultation with attorney Tyler Monahan to discuss the details.
Disclaimer
The commentary and opinions are for informational and educational purposes only and not to provide legal advice. You should contact an attorney in your state to obtain legal advice concerning any particular issue or problem. You can become a client and enter the attorney-client privilege only after hiring Turner-Monahan, PPLC, by signing a written retainer agreement.
