California is a community property state. This means that the spouse equally shares in assets and debts acquired during the marriage unless a reimbursement statute applies (and frequently, reimbursements play a large part in inequitable distribution).

Or… unless a spouse can get away with hiding assets or income.

What are the disclosure obligations in California?

California has a series of statutes imposing on each spouse an affirmative duty to fully disclose to the other spouse all assets in which either party may have any interest, that interest is separate or community in character. As per California Family Code Section 2100, a full and accurate disclosure of all assets and liabilities in which one or both parties have an interest must be made in the early stages of the proceedings for the divorce or legal separation.  

What are the consequences of fraudulent concealment?

The courts have a good methodology for protecting a spouse’s separate property assets and equity – so when a spouse willfully chooses not to disclose assets the courts have established a variety of punitive measures which can be levied against the offending spouse. Those measures can be anything from awarding 100% of the asset to the wronged spouse, or 50% of the asset along with monetary sanctions, including hefty attorney fee awards.

Pursue your fraud claim with our fraudulent concealment attorney in Ventura County, CA

Assets might simply be placed into the name of another family member; might be claimed as having been “lost;” might be slid into an out-of-state corporation or LLC, or might even be transferred into an offshore account. Income can be diverted into alternate merchant banking accounts, taken as cash, remain unreported altogether over a period of time, etc.

For every method opposing parties have invented to hide an asset, our firm has found another method to not only discover it but to prove its existence and concealment to the court. Hartley Lamas Et Al invests heavily in ensuring we, and our associate attorneys, are highly educated in this practice area, and we add that education to our large body of experience to make our clients whole.

To get in touch and schedule an initial consultation with one of our best fraudulent concealment lawyers in Ventura County, California, call our office at (805) 639-0600or  email the firm.