There are a number of ways that spouses and former partners in a family law property dispute may attempt to hide assets from the other person. Some of those include:
- putting money into a different account, possibly with a different bank
- using companies or trusts to try to hide assets
- putting assets into someone else’s name, such as a new partner or family member
- understating the value of assets or income in connection with a business
- restructuring a business
- not disclosing business contracts
- using an entity as a puppet, sham or alter ego
- hiding inheritances, bonuses, redundancy payments or other windfalls
- fake loan agreements with family members
- dubious debts or loans to family members or friends
This is not an exhaustive list. There are many ways that parties to a family law matter may attempt to hide assets from the other party.
There are a number of ways that your family law lawyer can assist you to uncover assets that a party to a family law dispute may attempt to hide. Some of those might include:
- online searches with government organisations such as the Land Titles Office, ASIC or the PPSR register
- obtaining a court subpoena of relevant records, including records held by banks and financial institutions or accountants
- checking for assets held in the name of a new partner or family member
- checking employment records
- the use of private investigators
- the use of a forensic accountant
If you would like to know what assets and debts are included in a family law financial settlement, please refer to our previous blog here:
What assets and debts are included in a family law financial settlement?
If you are concerned that your spouse or former partner is hiding parts of the asset pool from you, please give Morgan Couzens Legal a call on (03)57224681 to discuss how we might be able to assist you.
MORGAN COUZENS LEGAL
Please see the below for other family law related blogs that may interest you:
What are ‘financial contributions’? The second step in a family law property division
When can I apply for a property division under the Family Law Act?
