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Divorce in Louisiana: What happens if a spouse is hiding assets?

Divorce can be filled with all kinds of animosity and the last thing on many soon-to-be former spouses’ minds is sharing. But with divorce in Louisiana, by law each spouse has to be transparent with the other when it comes to financial assets. That’s not always the case, however, and some spouses resort to hiding what they have because they don’t believe everything they have should be shared.

There are telltale signs that a spouse may be hiding assets in the event of an impending divorce. The first clue may be found on bank and credit card statements. If he or she starts getting statements that stem from unfamiliar accounts, questions should be raised. As well, the occasional ATM receipt found lying around from such accounts is also another clue. There is all kinds of fakery associated with hidden assets such as paying employees who don’t really exist, underreporting income and opening a custodial account supposedly for child custody purposes.

If a spouse is using more than one cell phone, it’s may be because he or she is doing something he or she shouldn’t be. Hiding assets could be one of those things, not to mention communicating with a lover on whom he or she is shelling out money. When queried about these things, a guilty spouse will usually get defensive.

Discovery is the legal way of finding a spouse’s hidden assets. A Louisiana divorce lawyer would be able to help a client to do this — demanding to see financial statements, posing written questions and demanding the inspection of such things as safety deposit boxes and premises. An attorney would also be able to assist a client in getting the oral deposition of a spouse suspected of hiding assets. They must be honest when answering questions or risk perjury or contempt of court charges.

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