Divorce and a Spouse’s Cash Income
What to do When Your Spouse Hides Income?
Divorce is a challenging and difficult procedure for any couple looking to go separate ways when their marriage falls apart. During a divorce proceeding, it’s not uncommon for a spouse to hide their cash income. If a spouse has a business deal or a job that pays in cash, then it’s likely your partner will try to hide this extra income. If you’re in a similar situation, then you will need an experienced attorney to help prove the cash income of your spouse during your divorce case.
Hiding any cash assets is not an easy, but if you suspect your spouse is hiding cash income from you, you can use different methods to make sure the court is aware of the unreported income.
During your divorce, your spouse may attempt to conceal their cash income, whether business or personal. The benefit of hiding income is that during divorce proceedings, it will appear your spouse has fewer assets and lead them to prove you earn more than your partner does.
There are still a number of different ways to find hidden cash income and other assets. However, the process is time consuming and difficult as most of the cash and assets are hidden through third parties. These third parties could use false documentation and other techniques to hide assets. Proving unreported income is not an easy task and you will need assistance and guidance from a leading skilled divorce attorney.
How to Prove Cash Income
To report your income and assets, you and your partner will need to submit affidavits to the court. Providing misleading, or incorrect information on any affidavits is a serious offense, which could affect the divorce and child custody case. To uncover misleading or incorrect information, a forensic accountant will examine the affidavits and any paperwork submitted for review by the court. If the financial plan and other documents have proof of your spouse’s hidden cash income, the judge could get you a better divorce settlement.
If you’re married for a long time, your spouse is entitled to pay child support and maintenance or alimony, if they have sufficient income. The guidelines for spousal maintenance and child support indicates the partner who earns more than the other is more likely to pay alimony.
The discomfort surrounding paying alimony and spousal support is a reason a spouse would attempt to hide cash income. If you feel your spouse is hiding their cash income, speak to an experienced divorce lawyer to discuss your case.
In order to get more information about spousal maintenance, divorce and child support, schedule a free consultation meeting with an experienced divorce and spousal support lawyer, contact the Law Office of Fedor Kozlov at 847-241-1299 right now.