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Do I need to worry about hidden assets in my divorce?

People often have numerous fears and concerns when they are going through divorce. They may worry about everything from child custody to who will get the house or vacation property. And this uncertainty can only grow if you are going through a complex, high-asset divorce.

In these cases, many anxieties stem from financial matters. For instance, you might be fearful that your soon-to-be ex could be hiding assets.

Addressing your suspicions

If you believe your spouse is hiding assets or could hide assets during a divorce, the best way to address the situation is to get informed.

Collect critical paperwork including tax returns, pay stubs, bank statements and credit card bills, as well as any details on investments or businesses you or your ex might own. You would also be wise to take an inventory of your valuable personal property and take pictures to confirm its condition.

Having this information can ultimately reveal inconsistencies in financial affidavits. It can also serve as a means of preserving the condition of your marital property, which can be crucial if there are ever allegations of destroying or unlawfully removing those items.

In addition to your own efforts, it may also be wise to work with an experienced financial analyst skilled in examining complex marital assets.

If you discover hidden assets

In cases where you do discover hidden assets, either through your own investigation or the help of financial and legal professionals, such a discovery will affect your divorce.

In some cases, you could receive a larger portion of the marital estate. In other cases, you could have more bargaining power to secure more favorable terms for matters like spousal support or child custody.

Hiding assets is unlawful, and there are serious penalties that a person could face if they conceal, withhold or otherwise attempt to shield assets from division during a divorce. However, people still do it thinking they can get away with it.

To protect yourself from these underhanded efforts and to secure the fair settlement you deserve, it is wise to act sooner than later and discuss your concerns with your attorney.

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Reese-Beisbier & Associates, P.C.
407 East Maple Street
Suite 204
Cumming, GA 30040

Phone: 678-947-2988
Fax: 678-947-2987
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