Toronto Family Lawyers for Marital Fraud and Concealment of Marital Assets
The law in Ontario requires spouses to disclose the entirety of their assets and holdings during a separation or divorce. Upon breakdown of a relationship, both spouses have an equal right to non-exempt property acquired during the marriage, barring the application of any prenuptial agreement or marriage contract.
Where a high-income spouse has sole control over family finances, it may be difficult for the other spouse to know whether they have been completely forthcoming regarding their holdings. This may become a problem during negotiations over spousal support, child support, and equalization payments during divorce proceedings. If you suspect that your spouse is hiding assets or lying to you about their net-worth, you should consult with a knowledgeable family lawyer who has experience addressing such matters as soon as possible.
At Financial Litigation we focus solely on the financial aspects of separation and divorce. We have the necessary skillset to identify hidden assets and assist clients that have been the victims of fraud in their marriage.
Where a spouse conceals assets or income during separation and divorce
Following separation and divorce, marital property is meant to be shared equally. Divorce is often extremely emotional, and in some cases, one spouse may attempt to remove property or other assets from the reach of equalization, or otherwise conceal their true income to avoid paying fair spousal and child support.
Although it can be difficult to prove fraud, there are often signs that a spouse is attempting to hide assets. These could include:
- unexpected withdrawals from shared accounts;
- large loans given to family, friends, or business partners;
- a lack of transparency with respect to financial decisions; or
- sudden changes in their spending habits and behaviour.
Using financial experts to trace hidden assets and identify marital fraud
Where one spouse is earning a significant income through a family business or professional corporation, their assets may not be easy to identify. Financial experts can review personal and company records to identify compensation, stock options, expense accounts, real estate, and other investments that may be concealed. Through forensic accounting, we can also trace assets located outside of Ontario in other jurisdictions.
Effective family lawyers for cases of hidden assets and marital fraud
At Financial Litigation, our lawyers understand the importance of getting to the financial truth in family law matters. Because our firm focuses on the economic matters of legal disputes, we have excellent relationships with forensic accountants and other financial professionals to help us find hidden assets. When you suspect marital fraud, we act swiftly to build an effective team that can help protect your rights. To make an appointment, call 416-769-4107 x1 or contact us online.