Your Shortcut to Finding Out Whether Your Ex-Spouse is Concealing Money and Investments in Your Separation or Divorce in Ontario!

Your Shortcut to Finding Out Whether Your Ex-Spouse is Concealing Money and Investments in Your Separation or Divorce in Ontario!

It is common knowledge that many spouses getting separated or divorced who are self-employed or business owners try to hide their money, investments and assets from their ex-spouse.

I have given you some excellent examples of spouses trying to conceal their money and assets in some previous videos.

Hi, my name is Thomas O’Malley.  I’m an experienced family lawyer in Durham Region and the GTA.

You can improve the odds of finding hidden income and convince the family court to accept those findings when you use certain approaches.

Begin by examining the lifestyle of the person earning the income, and match it with the income reported.

What kind of car does the spouse drive, and how was it paid for?  What kind of clothes do they purchase, where do they travel, and at which restaurants do they eat? 

If there is a disparity between the lifestyle and the reported income, such as when the tax return shows a low income and the lifestyle reflects a high income, examine the person’s debts to see if the lifestyle is paid for with borrowed money.

If the debts have not increased, look for other possible explanations, such as sale of assets or a recent inheritance.  If nothing seems to justify the lifestyle in excess of the reported income, then there is a good possibility that unreported income is funding the lifestyle.

Another helpful approach is to visit the spouse’s business premises.  Sometimes it helps rule out certain areas which might otherwise be explored.

For example, a business with gas stations is less likely to have unreported income than a grocery store.  A visit to the gas stations will show that all sales, in dollars, are reported by each gas pump.  

If the owner does not work at the gas station, he does not want the pump to malfunction because this is only way to know whether their employees are stealing from them.  Therefor, the pump equipment itself is very useful in determining the actual sales. 

In a grocery store or supermarket, an owner could simply arrange that certain cash receipts are not deposited.  The owner could arrange, for example, that all receipts from a certain cash register be given to the owner and not deposited to the store safe. 

It is essential to understand how the business is run, how often the owner comes to the business, what is their relationship with the employees.  One should also check for fictitious employee and irregularities in bank deposits.

Make sure you spend some time with your family lawyer discussing these important issues in your separation or divorce.

If you have any questions about your separation, divorce or family law case and you would like our help, there’s a few ways to contact our office.  You can leave a message on my Facebook law office page, visit my website at www.canadiandivorcelegaladvice.com, or call me directly at 905-434-8837.  We would be happy to speak to you.

Oh, by the way, did you know you can protect your family law rights and get essential information on settling your family law issues with your former spouse with the daily indispensable family law advice and tips at my FREE Facebook group?

Click here to find out more: Durham Region Separation and Divorce Legal Support Group  

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