Utah is an equitable distribution state. This means that in the event of a divorce, Utah courts will divide the marital property in a manner that is deemed ‘fair’ to both partners. A fair division of assets does not mean an equal division of the assets. In fact, in many cases, it is quite the opposite. One of the key principles underlying this type of system is that divorcing couples have a legal responsibility to disclose the full extent of their assets. Otherwise, the equitable distribution process would be seriously undermined. This is particularly an issue of concern in divorces involving high-end assets. If you are beginning the divorce process, and you believe that your spouse has hidden assets, please contact an experienced Park City, Utah divorce lawyer today to discuss your legal options.
If you are asking yourself, “What Can I Do If My Spouse is Hiding Assets?”, here are four ways a divorce attorney can help uncover hidden assets:
Under Utah law, you deserve your fair share of the marital assets. If your spouse is hiding their assets, they are violating your rights. Your divorce attorney has many legal tools available that can be used to help discover undisclosed assets. Specifically, your attorney can:
- Retrieve financial documents: Under Rule 34 of the Utah Civil Rules of Civil Procedure, your divorce attorney can seek the production of documents. By filing a request for documents, your attorney can obligate your spouse to hand over relevant financial records. If your spouse attempts to elude this request, your attorney can take further legal action to force these documents to be produced.
- Examine financial records: Once your divorce attorney has access to key financial documents and records, an extensive review of these documents will need to take place. When one partner is trying to hide their assets during a divorce, they will rarely hand over a smoking gun. That being said, a careful review of all financial documents can help you start to put together the case and find holes within your partner’s story. Many times, financial records will make it clear that some assets have not been properly disclosed.
- Obtain testimony: Your divorce attorney can also conduct an official deposition of your partner. This part of the process generally comes after the discovery and review of the financial records. Once again, a partner who is hiding assets is unlikely to admit the truth, but your attorney can find inconsistencies within their story. The information gained through the deposition can be put together with the information obtained from financial documents and records to help build the foundation of your case.
- Issue subpoenas: Finally, your attorney has the power to issue subpoenas to third parties. Any party that receives a subpoena is legally required to follow the instructions and produce the relevant information. In a hidden-assets case, a subpoena can even be issued to a bank or another type of financial institution.
Contact Our Office Today
Coil Law, LLC is a compassionate family law firm that serves clients in Park City and throughout Summit County. If you have any questions about divorce, hidden assets, or Utah divorce in general, please do not hesitate to contact our office today at (801) 939-6027. Legal consultations are always fully confidential.
