Hidden assets – this is a problem in divorce and support cases, tax avoidance, corporate liability and debt collection. The holding of “off-shore” accounts may be used to subvert family law obligations, judgments and legitimate tax obligations.
Some lawyers work to help clients with what they call “asset protection,” which means the creation of trusts and shell companies and the like. The recent revelations of the Panama Papers, and transfer of operations and funds by large corporations to friendly countries overseas, have raised ethical and other questions in the media, and raised the public’s awareness.
What happens when someone has cash income, whether from a legal business or illegal activities, and parks it in an account in a Caribbean bank? Perhaps they get a credit card payable from that account. How can a litigant discover these assets?
We have experience at finding ways to help. Let’s discuss the problem together.
David I. Grunfeld