Are you worried that your spouse is hiding assets?

| Feb 17, 2021 | Uncategorized |

Are you worried about your financial wellbeing post-divorce? It’s common concern, and one that should drive you to take adequate precautions prior to entering your divorce. This means knowing what you need and want you want out of your divorce’s property division process, and also adequately addressing spousal support. Yet, as you progress through the property division portion of your divorce, you’ll find that you’ll only have access to your marital assets. That might sound obvious, but what if there’s more to your marital estate than you know?

Is your spouse hiding assets?

Far too often, spouses end up hiding assets when they see divorce on the horizon. They do so in hopes of keeping what would otherwise be deemed marital assets all to themselves. They might stash cash in various bank account, retitle property in the names of another, or squander cash in hopes of quickly reducing the size of the marital estate. Each of these tactics is unfair and could put you at a significant financial disadvantage post-divorce.

So what can you do to ensure that you’re getting your fair share of marital assets? One of the best things you can do if you suspect hidden assets is to work with a forensic accountant. These financial professionals know how to analyze financial documents in a way that allows them to identify the movement of cash and property. When they spot red flags, they can then delve deeper to ensure that they are identifying where marital assets have wound up. As such, these individuals can be powerful expert witnesses at a divorce trial.

Go into your divorce armed with knowledge and legal strategy

Divorce is so common that it seems pretty straightforward to most people. But in practice, divorce is often enormously complicated because the law is often broad and many factors can come into play when determining major divorce legal issues. That’s why most people find it beneficial to discuss their case with a family law attorney who they feel will zealously advocate for them and their financial future.

 

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