The mandatory disclosures are listed in Family Law Rule of Procedure 12.285. The mandatory disclosures are required to be disclosed in part to prevent a spouse from hiding assets in a divorce. However, if a spouse is hiding marital assets, many of the documents that must be supplied pursuant to the mandatory disclosure rule can provide trails of evidence to the savvy practitioner. For example, bank statements, loan documents and credit card statements must be provided by both spouses in a divorce and can provide useful clues to where the hidden assets are located. Fortunately, the law provides the ability to subpoena third parties for production of documents. Another issue that arises when a spouse is hiding marital assets in divorce is fraudulent transfers. Some assets may be transferred offshore, and some assets may have been placed in the name of third parties and or trusts. Depending on the facts, an experienced family law attorney has tools to claw back assets that are diverted for purposes of avoiding dividing assets in divorce.
Hiding marital assets in divorce is one of the most complicated issues divorce attorneys face. A spouse facing hidden marital assets should hire a sophisticated practitioner to focus on the financial disclosures as well as any necessary third parties involved in the diversion of marital assets to ensure the deceived spouse receives their just entitlement.