Oklahoma City Hidden Assets Lawyer

During a divorce, a spouse may attempt to conceal or misrepresent assets brought into the marriage or acquired during it. This can be especially problematic in cases involving business interests, investments, complex income, trusts, or high-value real estate. An Oklahoma City hidden assets lawyer can identify, trace, and address assets that are hidden, unreported, or misrepresented in a divorce.

Bundy Law’s approach to asset-intensive divorces emphasizes asset tracing, identifying hidden assets, and ensuring clients are treated fairly under Oklahoma property division laws.

Hire a Hidden Assets Lawyer

Complex family law issues drive Bundy Law’s work, including divorces involving high-net-worth parties and allegations of financial misconduct. The firm has worked on cases that call for a deep dive into financial accounts, business interests, and complex income situations.

Aaron Bundy is a member of the International Academy of Family Lawyers and the only IAFL member in Oklahoma. The firm’s family law attorneys in Oklahoma City are also members of the American Academy of Matrimonial Lawyers, an invitation-only organization that reflects peer-recognized experience in complex financial family law matters.

Common Methods Used to Hide or Undervalue Assets in Divorce

Hidden-asset issues can be involved when there are layered financial vehicles in place, rather than direct marital misconduct. Examples include incomplete disclosure of accounts and financial vehicles, timing shifts of income, or undervaluing closely held interests, among other possible concerns. Hidden-asset risks can become more significant when one spouse controls financial information.

According to the U.S. Census Bureau’s Annual Business Survey and Non-employer Statistics, there were approximately 35.7 million U.S. businesses, including both employer and non-employer firms, in 2023. With so many business entities operating nationwide, layered income and investment structures can complicate the identification of the entire marital estate.

Tracing Business Income and Cash Flow in High-Asset Cases

Self-employed people and business owners can have income that is not reflected on an ordinary paycheck. Income can be channeled through the company, business distributions, retained earnings, or even reimbursements of expenses.

Self-employment can take many forms but often involves a flexible or nontraditional source of income. In a divorce, tracing cash flow can be a painstaking task that involves reviewing tax returns, financial statements, and account activity to differentiate the owner’s income from the business’s income.

Financial Disclosure Issues in Oklahoma City Divorce Proceedings

In Oklahoma City, disputes over the non-disclosure of assets may arise in divorces where one spouse has greater access to financial information than the other. The Oklahoma County District Court typically handles such matters. The discovery process in these cases may involve requests for specific documentation such as bank statements, business records, and investment account histories.

Hidden-asset issues often become apparent during this process, especially in cases involving business ownership or significant investment portfolios. Addressing issues early in the case can often help define the marital estate and prevent unnecessary arguments on valuation and division later.

Why Hidden Assets Matter in Property Division Outcomes

Property division is heavily reliant on obtaining a full and accurate picture of the marital estate. Assets that are missed or not fully revealed create a distorted view of the financial reality of the marriage. This is particularly true of business interests, investments, or real estate.

Business ownership and investments are often prevalent among households with higher incomes, suggesting a greater likelihood of complex financial arrangements. Thorough asset identification increases the likelihood that the property division will be premised on a complete picture and ultimately decreases the chances of post-decree litigation. Reach out to an Oklahoma City asset division lawyer for more info.

FAQs

What Is Considered a Hidden Asset in a Divorce?

A concealed asset does not only refer to an asset that is purposely hidden. It can also mean an account, revenue, or interest left off, undervalued, or underreported during disclosures. This can include, but is not limited to, deferred compensation, business retained earnings, cryptocurrency, or assets in someone else’s name.

How Often Do Divorces Occur in Oklahoma?

The Centers for Disease Control and Prevention reports that in Oklahoma, the divorce rate is about 3.3 per 1,000 people. This is significantly higher than the national average. While this statistic does not address asset concealment in divorce, it does show how often the Oklahoma court system handles divorce cases in which full financial disclosure is necessary to reach equitable solutions.

Are Hidden Assets Always the Result of Intentional Misconduct?

No, hidden assets aren’t always the result of intentional misconduct. Oftentimes, hidden or omitted assets arise from the complex financial arrangements in many marriages today.

Complexities such as business ownership, nontraditional forms of compensation, and multiple accounts and investments can make it challenging for a party to know or identify all marital property without careful examination. The courts are typically more interested in whether disclosure was made than in why it was not.

When Should Hidden-Asset Concerns Be Raised in a Divorce Case?

Allegations of undisclosed or incomplete financial information should be made as soon as possible. Waiting until the last minute may result in fewer options for recourse or limit the ability to divide certain property.

Before entering mediation, settlement discussions, or trial, there should be sufficient time to request relevant documents and permit professional evaluations while questioning the other party. This can help in making informed decisions.

Contact an Oklahoma City Hidden Assets Lawyer

The discovery of hidden assets can be pivotal in a divorce case, particularly when one or both parties have interests in businesses, investments, or complex income streams. Sometimes it’s not always easy to identify the full marital estate. A financial review of accounts and knowledge of how parties may hold and report certain assets is needed to identify hidden or missing assets.

At Bundy Law, we handle Oklahoma City divorce cases involving hidden assets and other matters related to financial transparency. We have experience representing clients in high-asset, complex financial cases.

If you have concerns or questions about whether all property has been disclosed in your case, it is important to hire a hidden assets lawyer promptly, so that you can protect your financial interests in the long run. Book a consultation with our team today.