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Could your spouse be hiding assets in your divorce?

It's not uncommon for hidden assets to become a factor in a Minnesota divorce. It might happen something like this: Your spouse told you that he or she was earning about $3,000 per month throughout the course of your 10-year marriage. However, the income was actually about $15,000. All the extra earnings were going into a secret bank account that you were never aware of.

Now that you're getting a divorce, your spouse needs to disclose the assets saved in the hidden bank account because they are part of your marital estate and will be subject to the asset division process. In fact, with a select few exceptions, virtually all assets acquired by you and your spouse after the date of your marriage will be included within your marital estate and subject to division.

When a spouse is hiding assets, a property division matter will become especially complicated. At Berg, Debele, Desmidt & Rabuse, we may employ the services of a forensic accountant to track down all the assets your spouse may be trying to hide.

Minnesota courts frown upon the unlawful act of hiding assets in the divorce process. In some cases, if you show that your spouse was hiding assets, then a family law court may choose to award you more of the marital estate as a form of punishment against your unlawfully acting spouse.

At Berg, Debele, Desmidt & Rabuse, once we have completed an accurate determination of the full amount of your marital estate, we can move forward with the property division process based Minnesota's model of "equitable" division. If you have questions or worries about the potential for hidden assets in your divorce, be sure to discuss this with your divorce lawyer.

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