Tracing Hidden Assets | Divorce Lawyers & Family Law Solicitors | Austin Kemp
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Financial Matters

Tracing Hidden Assets

As part of the divorce process, you'll have to come to an agreement about how any assets you own will be split.

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This may include savings, investments, cash, jewelery, properties, and pension.

This process requires both parties to be honest in disclosing all the assets. But where there is mistrust in marriage, it’s conceivable that one or both spouses may try to hide some assets from the other. It is in your best interest to ensure all assets are disclosed during the divorce process.

So, how do you know if your spouse is hiding assets and most importantly, how do you find the hidden assets in a divorce case? You can do the search yourself, but this process may not be straightforward, particularly where some assets are geographically dispersed.

For this reason, we recommend hiring a divorce solicitor.

At Austin Kemp, we know how hard it is to locate hidden assets in a divorce. Our experienced solicitors can help you uncover those hidden assets and ensure that marital property is divided fairly between the two spouses.

How Can Austin Kemp Solicitors Help You?

At Austin Kemp, we have extensive expertise in dealing with divorce-related financial matters, including tracing hidden assets.

We use every means possible to ensure hidden assets are uncovered and you get an equitable settlement. We’re particularly experienced in dealing with high-value assets in the £1-10 million range, including personal assets and business assets located abroad.

If you suspect your ex-partner is making attempts to hide assets, we advise you to approach the subject legally to avoid escalation of hostilities. We can tailor our approach to your situation, taking a more robust stance to ensure everything is uncovered.

How We Can Help You Find and Trace Assets in Divorce

As mentioned, tracing assets can prove difficult, especially if some assets are hidden overseas. Our team can make the process of locating these assets easier by:

Getting a Court Order for Asset Disclosure

If you believe your ex is attempting to hide some assets to avoid sharing them with you, we can apply to a court for an order requiring them to disclose documents related to assets.

This can be your secret weapon to get them to disclose all assets, as failure to comply with the court order make them in contempt of court.

Tracing Offshore Assets

Tracing offshore assets can be challenging, but the process becomes easier when you hire a professional solicitor. At Austin Kemp, we can assist you by requesting all the relevant documentation to help trace all offshore assets, including hidden bank accounts, property, investments, and businesses.

Determining the True Value of Assets

Knowing the value of the disclosed assets is just as important as what those assets are. This can be tricky, especially when dealing with asset types whose value is difficult to establish. In this case, we can recommend a forensic accountant to provide an independent valuation of all the assets, giving you confidence that you’re getting a fair share of all the disclosed assets.

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Getting a Court Order for Asset Disclosure

If you believe your ex is attempting to hide some assets to avoid sharing them with you, we can apply to a court for an order requiring them to disclose documents related to assets.

This can be your secret weapon to get them to disclose all assets, as failure to comply with the court order make them in contempt of court.

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Tracing Offshore Assets

Tracing offshore assets can be challenging, but the process becomes easier when you hire a professional solicitor. At Austin Kemp, we can assist you by requesting all the relevant documentation to help trace all offshore assets, including hidden bank accounts, property, investments, and businesses.

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Determining the True Value of Assets

Knowing the value of the disclosed assets is just as important as what those assets are. This can be tricky, especially when dealing with asset types whose value is difficult to establish. In this case, we can recommend a forensic accountant to provide an independent valuation of all the assets, giving you confidence that you’re getting a fair share of all the disclosed assets.

How to Trace Hidden Assets

As part of the divorce process, both spouses must agree on how to divide any money, investments, properties, and other valuables.

Most couples manage to reach an amicable agreement outside of court through discussion and negotiation. This process works fine when both parties are honest with each other and fair. However, this will not always be the case.

Note that any attempt to hide, transfer, or dispose of money or assets prior to divorce proceedings to avoid a fair settlement is punishable by the court.

So, how do you trace these hidden assets?

The first place you’ll want to look is the “Form E” document.

This document requires both couples to give all the information regarding their assets—properties, wages, mortgages, pensions, investments, valuables, bank accounts, etc. You’ll want to ensure that everything in this document adds up.

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Potential red flags include a sudden change in investments, password change for bank accounts, or being locked out of a jointly owned business.

If you suspect your ex-partner is trying to hide some assets or documents, alert Austin Kemp’s solicitors immediately. There are many ways we can help find and trace hidden assets, including applying for:

  • A freezing order
  • A search order
  • An order for third-party disclosure
  • Avoidance of disposition order

Tips for Tracing Hidden Assets

Once you find that your partner wants a divorce, it’s only natural that you wonder how long they have been thinking about this decision and whether they have concealed some assets. Here are some golden tips to help you determine whether your partner is hiding some assets.

1. Inspect Voluntary Disclosures

The law requires both parties to make full and frank disclosure of all their assets in a divorce. This is usually done at the beginning of the discovery process and is considered the first step in determining who gets what. Carefully examine these disclosures and take notes of any errors or omissions.

Ideally, you’ll need to look for:

  • Missing bank accounts
  • Unlisted property or cars
  • Missing tax information
  • Missing valuables, like jewelry
  • Anything of financial nature not disclosed

2. Examine Your Spouse’s Lifestyle

To find hidden assets, you’ll need to examine your spouse’s lifestyle.

Examine the social media accounts they use frequently. If they have offshore properties, chances are they have posted them on social media and commented about the ownership in captions.
The more information you can obtain on your ex-partner’s lifestyle, the easier it will be to spot hidden assets.

3. Hire a Forensic Accountant

A forensic accountant is an independent third party who can help you discover hidden assets. This expert will review financial statements and look for inconsistencies that may indicate fraud. For example, suppose your ex has been making large monthly payments without explanation. This could mean they’re hiding assets from you to avoid paying spousal maintenance.

Contact Austin Kemp Solicitors for Help

If you suspect your ex-partner may be hiding assets to avoid sharing them fairly with you in your divorce, seek the help of a divorce solicitor. Austin Kemp solicitors can help you trace and discover hidden assets. Contact us today to determine how we can help you.

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