Going through a divorce can be a stressful and confusing experience, particularly if you suspect that your spouse is hiding income. Unfortunately, some spouses will try to conceal assets or underreport their income to avoid paying their fair share of child support or alimony. If you’re going through a divorce in New Mexico, here are some steps you can take to protect your rights and ensure that you receive a fair settlement.
Understand the Law
In New Mexico, both spouses are required to disclose all of their assets, income, and debts during the divorce process. This includes any property, bank accounts, investments, retirement accounts, or other financial assets that either spouse may have. If one spouse fails to disclose all of their income or assets, they could be found in contempt of court and face legal penalties.
Gather Evidence
If you suspect that your spouse is hiding income, you’ll need to gather evidence to support your claim. This could include bank statements, tax returns, pay stubs, or any other financial documents that demonstrate your spouse’s true income. If you’ve already filed for divorce, you can issue subpoenas to banks or employers to obtain these documents.
Hire an Attorney
If your spouse is hiding income, it’s essential to hire an experienced divorce attorney who can help you navigate the legal process. An attorney can review your financial documents and help you determine if your spouse is underreporting their income. They can also represent you in court and ensure that your rights are protected throughout the divorce process.
Try to Negotiate
If you suspect that your spouse is hiding income, you may want to try negotiating a settlement before going to court. A skilled divorce attorney can help you negotiate a fair agreement that considers your spouse’s true income. By avoiding a costly and time-consuming trial, you can reach a resolution that’s beneficial for both parties.
Go to Court
If negotiations are unsuccessful, you may need to go to court to resolve the dispute. In New Mexico, spouses can request a court order to obtain financial information, including tax returns, pay stubs, and banking records. If your spouse is found to be hiding income, the court may award you a greater share of marital assets or increase your alimony or child support payments.
Work with a Forensic Accountant
In some cases, it may be necessary to hire a forensic accountant to investigate the suspected hidden income. A forensic accountant can analyze financial records and determine whether your spouse is underreporting their income or concealing assets. They can also testify in court and provide expert testimony regarding your spouse’s true financial situation.
Conclusion
Going through a divorce is never easy, but it can be particularly challenging if you suspect that your spouse is hiding income. However, by working with an experienced divorce attorney, gathering evidence, and understanding your legal options, you can protect your rights and obtain a fair settlement. If you’re going through a divorce in New Mexico and suspect that your spouse is hiding income, contact an attorney today to learn more about your legal options.