Is Your Spouse Hiding Assets? How Forensic Accounting Can Help in a New York Divorce - Richard Roman Shum
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From Law Office of Richard Roman Shum, Esq. - Is Your Spouse Hiding Assets? How Forensic Accounting Can Help in a New York Divorce explores how forensic accountants help uncover hidden income, asset concealment, and financial misconduct in New York divorce cases. This episode dives deep into the red flags of asset concealment—ranging from lifestyle discrepancies to document irregularities—and outlines how Manhattan divorce lawyer Richard Roman Shum works with forensic accountants to protect clients’ financial rights in contested divorces.
We examine the principles of equitable distribution and compulsory financial disclosure under New York Domestic Relations Law §236, including how the Sworn Statement of Net Worth and supporting documentation play a pivotal role in fair property division. Through real-world examples, we highlight tactics used by deceptive spouses—like shell companies, offshore transfers, and digital manipulation—to avoid asset division. The conversation also reveals how these tactics can distort child support, alimony, and long-term financial outcomes.
The episode defines the role of the forensic accountant as a financial detective—using advanced analytical techniques such as lifestyle audits, indirect income determinations, and blockchain tracing to expose concealed income and misrepresented assets. Whether it's uncovering cryptocurrency transactions, evaluating a privately held business, or reconstructing income via bank deposits, the forensic accountant builds a fact-based financial narrative to assist in litigation and negotiation.
Finally, we explore the legal consequences of asset concealment—including asset forfeiture, payment of legal and investigative fees, unequal property distribution, and even criminal charges for perjury. Richard Roman Shum shares insights from over 15 years of experience helping clients navigate complex divorces with dignity and fairness. Tune in to learn how securing financial transparency can be the most powerful tool in protecting your future during divorce.
Law Office of Richard Roman Shum, Esq
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