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Divorce and financial fraud

A significant concern for many divorcing couples in Texas is ensuring that their property and assets are divided in the proper manner. Spouses and their attorneys can run into difficulties, however, when the other spouse has committed financial fraud and is either hiding assets or has spent assets as a way of getting revenge.

An important part of the divorce process is carefully evaluating the value of the marital estate and dividing it pursuant to state law. Unfortunately, some spouses are less than honest and will do whatever they can to conceal property and assets so they do not have to share them with their soon-to-be-ex. For example, a spouse may put a piece of real estate in the name of an adult child from a previous marriage so that it isn't considered part of the marital estate.

Spouses may also engage in financial dissipation. By dissipating assets, the spouse reduces their net worth so that there is little or nothing to share with the other spouse. For example, a spouse may lose a lot of money gambling or may spend a great deal of money buying gifts for a lover. Such conduct is frowned upon by the courts, and the spouse who is guilty of dissipation may find themselves having to repay these funds to the marital estate.

Individuals who are concerned about the possibility of financial fraud when there marriage is coming to an end may benefit from speaking with an experienced divorce attorney. Legal counsel might suggest working with financial professionals who can detect the possibility of concealed marital property.

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