Rockville, Maryland Family Law Lawyers
Maryland is an equitable distribution state which is a process the courts use to divide marital property equitably between the parties, and not necessarily equally (50/50). If a spouse fails to disclose assets and instead hides the assets from the other party and the court, it may be difficult if not impossible for a party to receive a fair share of the marital property. Hidden assets can include income and property such as real estate, vehicles, bank and investment accounts, retirement accounts, stocks, business assets, etc. Common places where spouses may try to conceal assets are through transfers of cash to friends or family members, opening new undisclosed accounts, acquiring new property without your knowledge, underreporting income, and using a business to divert income.
Uncovering hidden assets can include analyzing financial documents such as personal and business tax returns and other tax related documents, statements for investment and bank accounts, pay statements, credit card statements and receipts, accounting records, business documents such as general ledgers, balance sheets and expense statements, and investigating public records.
Depending on the facts of the case, it may make sense to hire a professional forensic accountant, business valuation expert or investigator, to obtain and analyze data to uncover hidden assets.
The attorneys at Minshew & Ahluwalia LLP can assist you in locating hidden assets and income through formal discovery, such as interrogatories, requests for documents, depositions and subpoenas to financial institutions, employers, or other entities. We can also assist in petitioning the court for an injunction to prevent a spouse from selling, transferring, or otherwise disposing of assets.
If you suspect your spouse may be hiding assets or misrepresenting the value of assets, contact the lawyers at Minshew & Ahluwalia to discuss your concerns, ways to protect yourself before litigation, and options available to you.
The Law Firm of Minshew & Ahluwalia LLP is conveniently located in Rockville, Maryland, near the District and Circuit Courthouses for Montgomery County, Maryland and within walking distance to the Rockville Metro Station on the Red Line. Free parking is also available.