My spouse is hiding assets in offshore bank accounts and companies, what can I do?

All parties in a divorce are under a duty to provide “full and frank” disclosure. This means that they have to tell you about all their assets and income. Unfortunately, some wealthy spouses think that they can hide their assets – placing them under the control of companies, or moving them offshore. Such behaviour is taken extremely seriously by the family courts, and risks severe legal penalties.

If you believe that your spouse is hiding assets, our in-house Financial Forensics team can help - click below for a free initial consultation with one of our expert divorce solicitors.

CONTACT US

Vardags are very experienced in handling such cases. As the only family law firm with a dedicated in-house Financial Forensics department, we are uniquely well-placed to uncover hidden assets. Our forensic accountants specialise in tracing assets across the globe and unravelling complicated trusts and corporate structures.

We can highlight the inconsistencies in your spouse’s evidence to demonstrate to the court that they have failed to provide full and frank disclosure. Often this is enough for the court to draw adverse inferences and make a generous award in your favour.

Additionally, the court may also implement one of the following methods to tackle non-disclosure:

• Setting aside transactions – if you can demonstrate that your spouse transferred assets to deprive you of your fair share, the court can essentially undo the transfer
• Third party disclosure– the court can order a third party to provide additional documentation or financial information
• Penal notice – a warning that if a party fails to comply with a court order, they will be held in contempt of court and risk being fined, or even imprisoned
• Freezing injunction - an interim order which restrains a party from disposing of or dealing with assets to ensure they remain available for division.

Vardags are experienced at utilising these powers to get your spouse to disclose the true extent of their wealth. Often, a lack of disclosure will also lead to them having to pay your legal fees as well.

Our services are tailored to the needs of our high net worth (HNW) and ultra-high net worth clients (UHNW). Due to this, we have years of experience handling complex divorces, often involving sophisticated offshore trusts and financial structures. We are well-accustomed to the many tricks and tactics employed by spouses attempting to hide their wealth. Our team can help you uncover them, ensuring that you get your fair share.