Discovering all marital assets is crucial for a fair divorce settlement in Nebraska. Nebraska law requires both parties to disclose all property, investments and debts fully.
Failing to disclose assets can result in severe penalties, including contempt of court charges and financial sanctions. If concealed property is uncovered, courts may also award additional property to the wronged spouse.
Common signs your spouse is hiding assets
Before diving into complex financial investigations, watch for warning signs that your spouse might be concealing property. These indicators often appear months or even years before divorce proceedings begin. Red flags include:
- Sudden secrecy about financial matters
- Unexplained cash withdrawals or transfers
- New accounts or investments you weren’t informed about
- Delaying financial disclosures during divorce
- A lifestyle that doesn’t match the reported income
- Business revenue that seems unusually low
These warning signs don’t necessarily prove wrongdoing but typically warrant a closer examination. Documenting suspicious financial activity can help your legal team determine the appropriate next steps.
How forensic accountants trace hidden assets
Forensic accountants are financial detectives who specialize in uncovering concealed assets during divorce. They examine financial records, tax returns and business documents to find discrepancies that might indicate hidden wealth. Asset tracing includes:
- Analyzing bank statements for unusual transactions
- Reviewing tax returns for inconsistencies
- Evaluating business financial statements for accuracy
- Tracing funds through multiple accounts
- Identifying undervalued or undisclosed assets
- Discovering offshore accounts or investments
The process is thorough but can be expensive. However, in high net worth divorces, this investment often pays for itself by uncovering substantial assets that rightfully belong in the marital estate.
Legal tools to uncover concealed assets
Nebraska divorce courts provide several legal mechanisms to help uncover hidden property. These tools can compel financial transparency even when a spouse is reluctant to share information.
Experienced divorce attorneys use these legal strategies:
- Formal discovery requests requiring financial document production
- Depositions where your spouse must answer questions under oath
- Subpoenas to financial institutions for account records
- Court orders for business valuation by independent experts
- Interrogatories requiring written responses about financial matters
- Requests for admission that can establish facts about assets
Each method creates a legal obligation for truthful disclosure. Working with a knowledgeable divorce attorney ensures these tools are used effectively to build a complete financial picture before property division occurs.
Asset tracing during a high-asset divorce requires strategic planning and specialized knowledge. A skilled divorce attorney can coordinate forensic accounting efforts and use appropriate legal tools to protect your financial interests throughout the divorce process.