Toronto Divorce Lawyer Advising High-Net-Worth Clients on Hidden Assets
In the process of separation or divorce, former partners must divide their property, including all assets, investments, joint bank accounts, real estate, business property, pensions, and debt that they acquired during their relationship.
Division of property can be challenging, both from a legal and a financial perspective. It can be further complicated where one spouse attempts to remove or hide property and other assets from the equalization and division of assets process, or otherwise attempt to conceal their income to lessen their child support or spousal support obligations.
Feigenbaum Consulting provides proactive advice on property division and takes swift legal action to protect clients’ assets. Prior to founding the firm, Mark Feigenbaum worked in the cross-border tax department of an international Big 4 firm and held accounting management positions in a range of sectors in both Canada and the US. Mark incorporates his tax and business knowledge into his family law practice to provide clients with exceptional risk management and multi-disciplinary advice.
Financial Disclosure During Separation and Divorce
Following the breakdown of a relationship, both spouses are legally obligated to provide each other with full financial disclosure. Assets cannot be undervalued, misrepresented, or hidden. Financial disclosure must occur even where spouses are settling their divorce outside of court.
Financial disclosure can become complicated where one spouse has sole control over family finances, or where there are complex financial or tax structures in place to manage a family’s assets. In such cases, it may be difficult for the other spouse to know whether there has truly been full disclosure of all relevant assets.
Common Indications of Hidden Assets
Signs that a spouse may be attempting to hide assets include:
- Unexpected withdrawals or movement of money from shared accounts;
- Starting to make transactions mostly in cash;
- Other sudden changes in spending habits;
- Large loans given to friends, other family members, or business partners; or
- A lifestyle that exceeds reported income on a tax return.
Decisive Legal Action to Uncover Hidden Assets
Separated partners are often unable to locate or investigate hidden assets on their own, without the risk of missing something. Feigenbaum Consulting’s multi-disciplinary approach considers all facets of property division, including family law, accounting, tax, management, and business considerations. This gives the firm an unparalleled advantage in disputes involving hidden assets. Mark Feigenbaum and his team know how to locate hidden assets and take swift action to protect clients’ rights and interests.
Contact Feigenbaum Consulting for Comprehensive Advice & Representation Regarding Hidden Assets in Family Law Matters
The skilled team at Feigenbaum Consulting quell clients’ concerns regarding property division by developing creative, multi-faceted legal and financial strategies. The firm provides discreet, effective representation to high-net-worth individuals, professionals, and business owners and has unrivalled experience locating hidden assets in family law disputes.
Feigenbaum Consulting is located just north of Toronto and serves clients throughout Canada, the United States, and the world. To schedule a confidential consultation on your family law matter, please reach out online or call (416) 777-8433 or toll-free at (877) 275-4792.