Nashville, TN, United States – August 29, 2022 —
Most have read of celebrity divorce cases reaching toxic levels because of one party hiding assets from their ex-spouse. But these ‘red flags’ could happen in similar high-net-worth splits that escape press attention, disclosed Nashville Divorce Attorney, Francis King.
For more information please visit https://franciskinglaw.com
The founder of the Law Offices of Francis King said he has encountered cases where a client’s ex tries to hide assets to achieve an unequal split and gain an unfair advantage.
In a court’s eyes, a judge will want to deliver a fair and transparent conclusion for both parties, but if one side chooses to seek an unfair advantage, that could have consequences.
King said: “Usually, you will find one person has a greater understanding of the couple’s financial affairs and can, in some circumstances, try to influence a settlement that is more in their favor.’’
“This can result in the other spouse being pressured into agreeing to an early and unfavorable settlement without legal help.”
King outlined several “red flags” that spouses need to look out for if they believe not all the assets involved in a divorce are being fully disclosed. They should not only seek advice from a skilled divorce attorney but raise these issues as soon as possible before the case gains momentum.
If an ex-spouse becomes aware of large sums of money being withdrawn from accounts, a high degree of spending from their ex on expensive gifts, or if the money is disappearing into other accounts, this can be construed as suspicious enough for an attorney to investigate.
King recounted how some ex-spouses, to avoid disclosing high-value assets, may transfer property into a child’s or close associate’s name in order to conceal them.
Suspicious movements of money into a family or friends’ accounts for ‘debts’ that are cleared off but were never known about or ‘cash gifts’ that occur shortly before or during divorce proceedings are likely to draw further investigation.
More brazenly, a client locked out of joint accounts due to a change in password or funds being funneled into other accounts indicates suspicious activity.
These can revolve around an ex-spouse’s lifestyle bordering on insolvent and unable to pay for things, such as child allowances. Similarly, they may try to undervalue their business empire, if they have one, to reduce a court settlement.
King concluded that someone who suspects foul play or fraud involving financial issues should urgently seek their divorce attorney’s guidance to take action.
Name: Francis King
Email: Send Email
Organization: Law Offices of Francis King
Address: 4235 Hillsboro Pike #300 Nashville, TN 37215
Release ID: 89080300
If you detect any issues, problems, or errors in this press release content, kindly contact email@example.com to notify us. We will respond and rectify the situation in the next 8 hours.