What Happens When My Spouse is Hiding Assests | Episode 153

What to Do If You Think Your Spouse Is Hiding Money in Divorce | Divorce at Altitude PodcastIn this episode of Divorce at Altitude, Ryan Kalamaya and Amy Goscha discuss the often complex issue of asset hiding in divorce. If you suspect that your spouse is hiding money or assets, it’s critical to understand how to recognize the signs, what steps to take, and the legal remedies available to uncover hidden assets. They delve into common strategies people use to hide money and how lawyers, along with forensic experts, can help trace these assets during a divorce.Episode OutlineIntroduction to Asset Hiding in Divorce Ryan and Amy introduce the topic of hiding assets during a divorce. Ryan explains that some individuals in divorce situations may attempt to conceal their wealth to reduce their share of the marital estate.Why People Hide Assets Amy discusses common reasons for hiding assets in divorce, including fear of losing money, resentment towards the other spouse, and a desire to avoid sharing the marital wealth.How to Uncover Hidden Assets Amy emphasizes the importance of gathering financial documents and requesting detailed information from your spouse. Red flags like unexplained changes in cash flow, the sudden appearance of new bank accounts, or unusual transactions are signs that further investigation is needed.The Legal Ramifications of Hiding Assets If assets are found to be hidden, there are serious consequences. In Colorado, under Rule 16.2 E 10, a Divorce can be reopened to reallocate property if a material misstatement or omission is discovered.The Role of Forensic Experts Forensic accountants play a crucial role in uncovering hidden assets. Amy explains that while business valuation experts can estimate the value of a business, forensic accountants go further to trace money through bank statements, financial records, and other transactions.The Psychological Aspects of Hiding Money Ryan discusses the psychology behind asset hiding, especially in cases where one spouse has been financially controlling or where there is a lack of trust.What is Divorce at Altitude? Ryan Kalamaya and Amy Goscha provide tips and recommendations on issues related to divorce, separation, and co-parenting in Colorado. Ryan and Amy are the founding partners of an innovative and ambitious law firm, Kalamaya | Goscha, that pushes the boundaries to discover new frontiers in family law, personal injuries, and criminal defense in Colorado. To subscribe to Divorce at Altitude, click here and select your favorite podcast player. To subscribe to Kalamaya | Goscha's YouTube channel where many of the episodes will be posted as videos, click here.  If you have additional questions or would like to speak to one of our attorneys, give us a call at 970-429-5784 or email us at [email protected].************************************************************************DISCLAIMER: THE COMMENTARY AND OPINIONS ON THIS PODCAST IS FOR ENTERTAINMENT AND INFORMATIONAL PURPOSES AND NOT FOR THE PURPOSE OF PROVIDING LEGAL ADVICE. CONTACT AN ATTORNEY IN YOUR STATE OR AREA TO OBTAIN LEGAL ADVICE ON ANY OF THESE ISSUES.