Division of Marital Assets

Protect Yourself by Playing Fair: Why You Shouldn’t Hide Assets in a California Divorce

By May 15, 2009 No Comments

If you’re thinking about how to handle your California divorce and protect your assets, you may want to take into account the divorce of millionaire H. Beatty Chadwick. He’s never been charged with a crime, but since 1995 he’s been jailed for civil contempt after $2.5 million didn’t turn up during his divorce proceedings. When will he get out? Possibly not until he produces the money. While his wife believes he hid the money in offshore bank accounts, Chadwick maintains he lost the money in a failed overseas investment.  It’s important to protect your financial interests, but hiding assets or hiding money behind fraudulent business transactions is never the answer. Divorce lawyers and family law judges have seen it all before, so it’s in your best interest to play by the rules to avoid sanctions. Otherwise, you may end up paying your ex’s attorney’s fees and costs, face possible jail time, or have the asset awarded entirely to your former spouse as punishment.

When your divorce is handled by Minella Law Group, we’ll strategize and help you legally protect your net worth during your divorce by getting expert appraisals when valuing assets (such as a business or retirement benefits), identifying which assets are community property and what belongs only to you, and then skillfully negotiating on your behalf so that your finances are protected to the full degree permitted by law. We understand the importance of preserving your net worth, and we will do everything we can to make sure you get the best divorce settlement possible.