Louisville Hidden Assets Lawyer

Hidden Assets Attorney in Louisville, KY

Divorce is a difficult process that only grows more complex and frustrating when one party lies during the proceedings. If you suspect your spouse is concealing their true net worth and belongings, every aspect of the divorce can be off balance. Your Louisville hidden assets lawyer can help you uncover any malicious property management and expose hidden assets.

About Us

Straw-Boone Doheny Banks Mudd Catalano & McKinney, PLL, has spent years helping people in Louisville, Kentucky, and Southern Indiana with their hidden assets cases. Our team has decades of experience handling hundreds of cases, ranging from simple separations to contested high-value divorces requiring months of forensic accounting. We are compassionate and zealous advocates who can make a positive impact on your situation. 

Overview of Divorce in Kentucky

Divorce is one of the most common types of family law cases in Kentucky. The CDC reported the state divorce rate as 2.9 per 1,000 residents, higher than the national average of 2.4 per 1,000 people. Some of these cases can involve intentional misdirection and lies that can complicate the process. 

Divorces involving hidden assets often require a full discovery process. In Louisville, these matters are handled through the family court at the Jefferson County Judicial Center, located at 700 West Jefferson Street in Louisville. 

What Are Hidden Assets in Divorce Proceedings?

Hidden assets represent any property that a party tries to hide during divorce proceedings. This is typically done to lower their perceived net worth to obtain favorable property division agreements and lower maintenance and alimony deals or child support payments.

People use many different methods to lie about their true financial status. A few frequent strategies include: 

• Business assets. Business owners attempting to hide assets may transfer funds into business accounts or use personal property in their operations.
• Fake gifts. One method some use is temporarily giving a friend or family member property or funds as a fake gift, with an agreement that they return it after the discovery process. 
• Offshore accounts. Offshore bank accounts can be used in an attempt to move funds to another jurisdiction.
• Trusts. Last-minute trusts are often used to hide belongings. This can be done through self-settled irrevocable trusts.  
• Digital wallets. A person may convert their money to cryptocurrency, such as Bitcoin, or employ another type of digital wallet. 
• Valuables. Before reporting their finances, some spouses purchase valuable items that can 

Hidden assets can carry penalties that vary based on the severity of the infraction. Some cases may be treated as contempt of court, with fines and jail time. More serious concealment can be prosecuted as a criminal matter of perjury, a Class A misdemeanor punishable by imprisonment of up to 12 months and a $500 fine. 

Hire a Hidden Assets Lawyer

Hidden assets can be incredibly difficult to prove when already handling the countless other problems during a divorce. The need for forensic accounting and examination of financial records can be challenging to understand on your own. Hire a hidden assets lawyer to aid you with your case. Your Louisville hidden assets attorney can provide many critical services to your case, including:

• Review your case. A skilled lawyer can review your case and highlight potential red flags that indicate concealment of funds. Examples of red flags for hidden assets include sudden lifestyle changes in spending, frequent transfers between accounts, inconsistent documentation, and missing funds.
• Reviewing financial documents. Before requesting additional information, your legal counsel can review the documents your spouse is claiming to provide evidence of irregularities.
• Forensic accounting. Forensic accounting is often necessary in complex, high-value divorces with suspicious financial behavior. This involves tracing the paths funds take, valuing businesses or trusts, and reconstructing missing records. 
• Representation in court. Court appearances can be stressful events when your financial security is at risk. Our team can represent you in all meetings for your case, both in court hearings and mediated discussions outside the courtroom. 

FAQs About Hidden Assets Law

How Can You Prove Someone Is Hiding Assets in Kentucky?

How you can prove that someone is hiding assets in an ongoing Kentucky family law case depends on the method they employ and the circumstances of the case. The first step is to request full documentation for bank accounts, income, and clear financial records. If inconsistencies arise, further investigation may be necessary. Discuss your case with an experienced hidden assets attorney to determine the strongest strategy to expose malicious financial actions.

What Assets Are Excluded From Divorce Proceedings in Kentucky?

When going through a divorce, it is beneficial to know what belongings are considered during property division. Marital property typically comprises most assets acquired during a marriage. Kentucky state law specifies that gifts, inheritance, and property owned before the union are all excluded from consideration. Some parties use preexisting accounts or gifted assets to conceal marital property. Consult your attorney for categorization of belongings in your situation. 

How Much Does a Hidden Assets Attorney Cost in Kentucky?

How much your Kentucky hidden assets attorney costs depends on the extent of services you require, the complexity of your case, and the total work hours for the firm. A straightforward case with poorly concealed funds typically costs less than a case with complicated webs of companies and accounts involving high-value assets. In your initial consultation, your lawyer can provide an estimate for your final legal expenses. 

How Are Assets Divided in a Divorce in Kentucky?

How assets are distributed in a divorce is an important detail to understand when determining whether an asset has been hidden. Kentucky uses equitable distribution laws during property division. This means assets are split based on what is deemed fair, rather than in even portions. Factors that courts may consider include each spouse’s contribution to the relationship, the duration of the marriage, and the financial status of both parties.

Speak With a Louisville Hidden Assets Lawyer Today

Straw-Boone Doheny Banks Mudd Catalano & McKinney, PLLC, understands how frustrating it can be to suspect your ex-spouse of hiding assets, but not know how to expose them.

Contact us today to schedule your initial consultation, where we can learn your story and discuss strategies to reveal the truth. You may also visit our Louisville office, located downtown on West Market Street, a few blocks northeast of Jefferson County District Court, and across from the Kentucky International Convention Center.