Ending a marriage can be overwhelming. In addition to dealing with the grief of separating from your spouse and changing your entire family dynamic, you need to figure out your financial situation. Under local law, both spouses are eligible to obtain an equal share of the couple’s jointly held assets. But what happens when one spouse tries to hide some assets so they will not become subject to division?
If you suspect your former spouse has hidden assets from you, you need to work with a seasoned and skilled legal team with experience finding hidden assets in Toronto. The experienced property division lawyers at The Riley Divorce & Family Law Firm could work diligently to help you locate the concealed assets in order to help you obtain your fair share of the marital property.
When couples divorce, marital property is typically divided fairly and equally. To achieve this, both spouses must fully and honestly disclose all types of money, property, and other assets they own. This transparency ensures a complete and accurate assessment of the marital estate, enabling an equitable division for both parties.
Hiding assets to keep them out of the division process is not only unfair but also illegal. Courts take asset concealment very seriously, and any attempts to hide property can lead to significant legal consequences, including penalties or adjustments in the property division. Full disclosure is essential to ensure that each spouse receives their rightful share of the marital property, protecting both parties’ financial futures.
Some examples of assets that might be located include:
Our seasoned team of Toronto legal professionals could work closely with forensic accountants and business valuators to locate any assets a spouse might have neglected to disclose when reporting their assets.
When people think of locating hidden assets in a Toronto divorce negotiation, they usually think of searching for assets that an uncooperative former spouse tried to keep hidden through fraudulent, deceptive, and sometimes illegal practices. However, some hard-to-locate assets are not intentionally hidden. Instead, those assets might just be more challenging to find, and a couple might not even realize that those assets should be considered part of the couple’s marital property. For example, if an executive’s payment structure includes deferred compensation that is not payable until several years into the future, the couple might not consider it to be part of the marital property.
A skilled local lawyer could search for assets that were hidden either through neglect or intentional actions in order to ensure there is a full accounting of all of the couple’s marital property.
If you suspect your spouse has tried to keep certain assets away from you so that they will not be included in the marital property, you need help. Finding hidden assets in Toronto can be challenging.
Work with a team of skilled legal professionals from The Riley Divorce & Family Law Firm who know how to help. Let our seasoned legal team help you through the divorce process. Set up an initial appointment today. We are available 24/7.
Now you can have your Consultation with Paul Riley any time from the comfort of your own home. With video calls from Zoom, your Team at The Riley Divorce & Family Law Firm can meet with you virtually, and learn about your case. All you need is a smartphone, tablet, laptop, or desktop with a built-in camera and microphone.
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