California is a community divorce state, which means that you are entitled to half of all of the income and assets you and your spouse accumulated during the marriage. It doesn’t matter if you spouse made a lot more money than you or you didn’t work. Some spouses try to cheat this system by hiding assets before they request a divorce or as soon as they realize you want a divorce.
Hiding assets is more common than you might think. Your spouse may use cash in savings accounts to purchase high net-worth items, which they don’t report. Others simply give existing assets or savings to family members as “gifts” that will be returned after the divorce is complete. We’ve seen other cases of spouses working with their employer to hold off on bonuses or stock options until after a divorce is finalized or even attempting to stuff money into offshore asset protection trusts.
If you live in Temecula and suspect that your spouse is hiding assets, it is time to hire a divorce attorney. At Albrecht & Albrecht, we can hire experts to help uncover hidden assets so that you can get your fair share during your divorce.