Learning More About The Divorce Discovery Process
Divorce discovery may be a new term for you, particularly if you have never been through the divorce process. Essentially, the discovery procedure is about gathering financial records about each spouse. After all, it is appropriate for a divorce attorney to review bank statements, financial records, and tax returns in order to get an accurate picture of the debts and assets of each individual.
A skilled Bucks County family attorney knows how to unearth a variety of financial accounts. For example, there may be retirement accounts or work bonuses that the other party was not aware of prior to starting the divorce process. Interrogatories may also be needed, which means that questions will be answered under oath. Once a lawyer has full knowledge of debts and assets, they can determine the best divorce settlement, from child custody to spousal maintenance payments, for you.
Hidden Assets Could Be Part of a Discovery
It is an unfortunate reality that some spouses hide assets. They do this by not fully disclosing all of their assets or being dishonest about their income structure. There could be investment accounts the other party is not aware of, or maybe an annual bonus that has not been disclosed. During the discovery process, your attorney can request all the information needed. If a person is being difficult, a subpoena is possible.
There are many, many scenarios involving hidden assets. Uncovering the truth is always a possibility, even if it requires the professional services of a forensic accountant or a CPA. If you have suspicions about stocks or other sources of revenues, share them with a legal professional as soon as possible. Then, a path to attaining the documentation needed can happen.
Determining Your Best Path Forward
Divorce can be an exhausting and emotional journey. But, it is in your best interests to be careful each step of the way. Do not rush to sign off on paperwork. Have your Bucks County family attorney look over all paperwork before deciding to settle.
Each family has unique considerations. If there are children involved, the child support payments need to be carefully considered. They may be too low if they only look at current income needs. After all, children grow and there could be a need for monetary support for tutors, summer camps, driving lessons, orthodontia, higher education costs, and more. Discussing these when settling a divorce means they will not have to be addressed later.
Financial security is an important part of exiting a marriage with confidence. If you feel your husband or wife is not being completely honest about their financial situation, be sure to have your worries addressed with the help of a legal professional.
Are you ready to learn about how the divorce discovery process could help you to secure the future you deserve? The family law attorneys at Kardos, Rickles & Hand can ensure all assets are identified and equitably distributed. 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.