Hiding Assets During the Divorce Process
Sometimes, couples are able to handle their divorce process amicably. Through cooperation and collaboration, they can land on an agreement. This approach is possible when there are few disagreements surrounding asset distribution. Of course, this is not always possible and it is important to protect yourself if you begin to feel as if you are being taken advantage of through a negation process.
There are times when an individual is not being completely honest. They may be hiding assets so they are not divided. Having a legal professional on your side means you will have an experienced professional on your side. Connect with a skilled Bucks County family attorney today.
Hidden Asset Warning Signs
When a person is hiding assets, such as income or property, they are doing so because they do not want them to be included within the marital estate. Essentially, because the marital estate is divided through the divorce process. If the other person is not aware of all the assets, they will not be able to access them. Legal action can remedy the situation.
Some of the warning signs of hidden assets include the following.
- There is one person in the marriage who is handling all of the financial documents, including budgets, investments, and payments. When the other asks about the figures, the person who handles them is defensive and agitated.
- The way you lived as a martial couple did not seem possible financially considering the income or assets you know about.
- A person who is self-employed or owns their own business does not share how much they earn per month, and refuse to do so when questioned. Related to this, tax time can be confusing, because there are business expenses or charges that do not make sense to you.
If you are navigating the divorce process and suspect your spouse of hiding assets, take action. There is a possibility their suspicious behavior is connected to income or property that is part of the marital estate. Assets you may have a legal right to.
Financial Records May Provide Proof
Reviewing financial records can be a way to find the evidence you need to prove there are hidden assets. For example, you may find discrepancies that will give you the cause to request further documentation. An experienced Bucks County family attorney can help you through this process, including securing court orders when needed. There may be another professional a lawyer is in contact who could assist as well, a forensic accountant, for example.
Ending a marriage is not easy. Looking forward and securing the future you want is part of the process. In order to access the financial security you need, connect with a legal professional.
Are you going through the divorce process and suspect that there are hidden assets that need to be addressed? The family law attorneys at Kardos, Rickles & Hand can help. Our dedicated legal team understands the finer points of family law. There are opportunities to create the life you want. Schedule your consultation today, call 215-968-6602.