Finding Hidden Vancouver Family Property Lawyers help ensure you get your fair share in a Vancouver family property division case. MacLean law has set records for aggressively finding hidden family property and punishing spouses who played dirty in fa family separation case. See our precedent setting wins in Mareva Injunctions, Anton Pillar Raids leading to jail time, record fines awards for non-disclosure and record special costs awards of up to $1.5 million. Our Finding Hidden Vancouver Family Property Lawyers will protect you and help you ferret out missing family property.
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What happens if your spouse is hiding family property and assets in your divorce?
Divorce can be a complex matter even under the best of circumstances. If there has been acrimony between you and your spouse, they might make things even more complicated by attempting to hide assets. If successful, they may keep you from getting your fair share after a court-mandated distribution of marital property. Be aware for telltale signs that your spouse might be hiding assets, and what to do if you think this is happening and to understand what will happen if this occurs. Senior Finding Hidden Vancouver Family Property Lawyers Tal Wolf and Fraser MacLean explain the rules for protecting yourself in cases involving hidden family property.
Call the family property protection lawyers at MacLean Family Law 1-877-602-9900 now to find out how to stem your losses, and to best preserve your position if you think your spouse has engaged in covert dealings with property in which you may have an interest.
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People cope with the stress of divorce in different ways. But if you notice the following types of new behaviors from your husband, wife or partner, it could be the signal of a major red flag. These can include:
- Unusual bank withdrawals.
- Opening, closing or transferring money around financial accounts.
- Changing passwords on joint accounts.
- Sudden “gifts” to friends or family. Your spouse may conspire with close friends and family by moving money and assets to them. When the divorce is legally final, they will transfer the money and assets back to the spouse it came from.
- Suspicious activity within the family business, including a change in the way the business is run of the accounting is done.
- Buying expensive items such as artwork, antiques, and collectibles, underreporting their actual value, and reselling it after the divorce to recoup the money.
- Storing money in a safe deposit box – A spouse may use a safety deposit box, hiding it within the family home or somewhere else, such as their office. You may never know what was put it in, or what was taken out and transferred elsewhere out of your reach.
- Overpaying taxes – This step can benefit an asset-hiding spouse in two ways. It can result in a refund they will receive after the divorce is final or credited towards the taxes they owe the following year. It’s also less money that is available for property division.
Another thing our Finding Hidden Vancouver Family Property Lawyers warn you to be aware of is a sudden investment in cryptocurrency.
The advent of digital assets and cryptocurrencies has added a new layer of complexity to marital property division. In a time where digital currencies can be transferred with anonymity, spouses may attempt to conceal funds by converting them into cryptocurrencies and storing them in anonymous wallets. Digital payment platforms can be exploited to obscure financial transactions. Spouses also can exploit various technological tools, such as encrypted messaging applications, private email accounts, and online platforms which can all be used for hidden financial transactions or to prevent you discovering valuable information.
The crypto market is largely unregulated, and accounts typically are located overseas. In fact, because it’s all based on the internet, the servers can be anywhere. This makes it easier to hide these accounts than have physical accounts that are close to home. Your spouse may assume that you have very little knowledge of cryptocurrency. We are still at an age where most people have never invested in it, and know even less about it. Your spouse may expect that you (or your lawyer) would overlook the possibility that major family assets are stored in crypto programs, which are easily funded through electronic transfers.
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Of course, if your spouse is caught trying to secrete assets away it will not reflect well on them in Court, or they may suffer what we call an adverse inference – where the Court makes certain financial assumptions against the other party even in the absence of proof. In some cases, child custody can be affected. Where there are serious potential problems with the hiding of assets by a spouse, you should call the Family Asset Protection Lawyers at MacLean Family Law to discuss how we may act to get immediate property protection/restraining orders in place to restore or preserve the family wealth for as long as it takes to resolve your divorce. We can also explain your rights to potentially bring a claim for an unequal apportionment, meaning that you could take more of the known assets to compensate for what you may not end up getting on assets where a proper accounting or equalization has been obfuscated by your spouse’s questionable deeds.
Family Asset hiding is not only ethically challenging but can also lead to significant tax consequences. By concealing assets and income, individuals may evade tax obligations, inviting penalties and legal ramifications.
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In some cases we can help you get Court orders in place to preserve and protect your assets even without the knowledge of your spouse, who would find out only upon being served with the orders. These are called “without notice” Family Law Act section 91, Family Mareva and Anton Pillar Raid orders ( MacLean Law is one of the rare family firms who have obtained successfully these orders) and they can be put in place to freeze the status quo until your spouse comes back into Court to explain what they have been doing, or otherwise to show justification why the property should not be held in place.
Call the hidden family asset experts at MacLean Family Law 604 602 9000 without delay to benefit from our expertise and to make sure your family wealth is fully secured.