Hide and seek
Every young child loves a good game of hide and seek. It’s simple, good fun — unless, that is, the game is being played in Clark County divorce proceedings involving substantial assets. When a spouse hides assets, the goal is simple: to deny the other spouse their rightful share in a settlement.
In a case far from Las Vegas, a man is suspected of hiding assets in a divorce. He apparently sold a Brooklyn property that was part of the marital estate, but won’t tell anyone what he did with the proceeds from the sale. He also transferred ownership of another property — for no money — and transferred his business to his sister’s name.
A judge on New York’s Court of Appeals said it appears the man is “doing everything he can to make a joke out of the court system.” The six-judge court will rule on the case next month.
According to the Associated Press, the court outline of the case states that the man sold the Brooklyn property in 2009 for $776,000. A court ordered him in 2010 to deposit sale proceeds in an escrow account; something he said he couldn’t do because the money was no longer in his possession. He refuses to say where it went or where it might be.
His former wife’s attorney argues that the man should be held in contempt of court. She says if the former husband is allowed to continue his behavior, it will set a terrible precedent.
While it is often difficult for divorcing couples to work through property division disputes, few people are willing to drag it out over years, as the man in this case has done.
An experienced Nevada family law attorney carefully examines financial documents and statements from the other party to help ensure equitable division of property. Have a frank discussion with your attorney if you believe your spouse might be hiding assets. Your Clark County divorce lawyer will fight to protect your rights and your financial interests.