When marital finances do not seem to match the lifestyle, income, or property a spouse appears to have, determining what belongs in the marital estate can become difficult. A hidden assets divorce attorney in PA at Mette Attorneys at Law can help you investigate financial information and identify assets or income that may not have been fully disclosed during divorce.
Hidden Assets in Divorce
Pennsylvania divorce proceedings require the marital estate to be identified before property can be divided. Pennsylvania law generally defines marital property to include property acquired by either spouse during the marriage, subject to specific exceptions. Spouses must provide transparent financial information about their property during the divorce process to ensure a fair distribution of assets.
Certain financial circumstances may justify a closer review of a spouse’s records. Our lawyers look at the overall financial picture and consider inconsistencies that could indicate income or property has not been fully disclosed, such as:
- Bank statements that do not appear consistent with reported income or spending
- Significant transfers to relatives, friends, or separate accounts
- Business expenses that appear unusually high or personal
- Changes in compensation, bonuses, commissions, or reported income before or during divorce
- Valuable property or investments that do not appear on financial disclosures
- Missing financial records or unexplained gaps in account activity
- Digital accounts or other assets that have not been identified during the divorce
These warning signs do not automatically establish that a spouse has concealed property, but they can provide a reason to examine financial records more closely and seek additional information through the divorce process.
Financial Records and Discovery
Our attorneys can use the discovery process to obtain information needed to evaluate a spouse’s financial disclosures. Financial records can reveal patterns that are difficult to identify from a single document. For example, recurring transfers to an unfamiliar account may warrant further investigation.
Some financial situations require more than a review of ordinary account statements. Mette Attorneys at Law can work with financial professionals to analyze financial records and trace transactions to help determine where money went and how particular assets or income should be treated. This can be especially important in high-asset divorces where even seemingly minor omissions may have a substantial effect on property division.
Remedies for Nondisclosure
Under 23 Pa.C.S. § 3505, if a spouse fails to disclose required information and an asset worth at least $1,000 is left out of the final property distribution, the other spouse can ask the court to create a constructive trust for the undisclosed assets. The court must grant the request if it finds that the spouse failed to disclose the assets as required.
The court can also issue an order preventing the property from being removed or transferred when there is a concern that the property is being moved or disposed of to defeat property distribution or certain support obligations.
Uncover Hidden Assets in Divorce with Mette Attorneys at Law
Dividing finances during a divorce can make it feel difficult to know how to protect your financial interests. Mette Attorneys at Law can help you understand the financial issues involved in your case and take the necessary steps to identify and address concerns about marital property. Call 717-232-5000 or complete our online contact form today to speak with our attorneys about your unique case.