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Divorce is never an easy process, especially when dividing assets. It's not uncommon for one spouse to try to hide assets, making property division even more challenging. If you suspect your spouse is hiding assets from you, taking action and protecting your rights is vital.
Share Your Concerns with Your Attorney
The first step in addressing hidden assets is to share your concerns with your attorney. Your attorney will be able to guide you through the process of identifying and uncovering any assets that may have been hidden. They can also advise you on the legal options available to you.
Investigate
Once you share your concerns with your attorney, they can investigate the matter. This may include hiring a forensic accountant who can help uncover hidden assets. The accountant will examine any financial records and transactions, looking for discrepancies or irregularities that may indicate that assets are being hidden.
Be Prepared
You must be prepared for a prolonged legal battle if you suspect your spouse is hiding assets. This can be emotionally and financially draining, but protecting your rights is essential. You should start by gathering all relevant financial documents, including bank statements, tax returns, and investment records.
Familiarize Yourself with Why This Might Occur
Familiarizing yourself with reasons why spouses hide assets in a divorce is also essential. For example, your spouse may have transferred assets to a family member or business partner to avoid including them in the divorce settlement. Alternatively, they may have underreported their income or overstated their debts, which can impact property division.
Deeper Understanding. Better Solutions.
If you believe that assets are being hidden in your divorce, taking swift action to protect your rights is essential. Start by sharing your concerns with your attorney, who can guide you through uncovering any hidden assets. Be prepared for a potentially prolonged legal battle, but know the goal is to ensure you receive a fair settlement.
At Law Offices of Michael D. Iverson, APC, our divorce attorney understands how frustrating it can be if you believe your spouse is hiding assets. We can help you investigate and prepare for your next steps. Call us today at (951) 418-2770 to schedule a consultation with our attorney.