Hidden Assets: How can the law protect you?

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Obtaining a property settlement due to divorce can be a very complicated procedure which often causes great angst and stress amongst all parties involved. Our Family Law Solicitors understand that as a result, people are often led to hiding their assets, in order to ensure that their former partner does not receive a just and equitable amount.

However, this is a breach of their statutory obligations to make a full and frank and disclosure and our Family Law Solicitors will ensure that all information is brought to the table by your former spouse.

Finding the hidden assets of a former partner

Finding the hidden assets of a former partner can be tricky. Mediation over financial cases can be bitterly contested where alleged non-disclosure and fraud against the spouse arises. However, there are simple ways you can find information about the individual concerned. These questions can tell-tale hints about the whereabouts of his or her alleged hidden assets:

What is the recent travel history of your former spouse?

Does your former spouse talk about a particular city or country?

Does your former spouse go on a vacation to the same place?

Is your former spouse born overseas?

Does his mail arrive with stamps pertaining to a particular country?

Do his emails come from a particular country?

Has your former spouse stayed in a country for at least three months in the past?

Does your former spouse have bank debit or credit cards from a bank from abroad or not well known in Australia?

Does your former spouse mingle with another person who has extensive business interests in another country?

Does your former spouse have an accountant, solicitor, mortgage broker or some other professional adviser who comes from or does regular business in another country?

Finding proof of hidden assets

The next step is to try to locate these documents of possible investment and transfer to another country. Acquiring access to bank statements, letters, emails, bank deposits or withdrawal slips or any other information can be done in order to recover hidden assets. Usually, the hidden assets can be identified as:

Held in cash or a short term bank account Shares and managed funds Investment Property Property development Purchase of a business Other assets

However, keep in mind that one must always stay inside the provision of the law. It is essential to only acquire documentation in a legal manner. Ask LAC Family Lawyers for legal assistance to make sure that the process is done properly and legally.