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Hidden assets in divorce: It’s a problem

Regardless of why you are moving forward with divorce, the process from start to finish should be as fair as possible. While a 50-50 split may not be the end result, the court will only approve a settlement that it considers fair.

One of the biggest problems with property division is hidden assets. In other words, your ex-spouse is not honest about all their assets, all with the idea of hiding something from the court so it's not taken into consideration.

Unfortunately, there are many ways for one individual to hide assets from the other. For example, this is particularly simple if one person owns a small business.

When you file for divorce, it's important that you are honest in regards to all your assets. This will put your mind at ease, as you know you're not doing anything that could land you in trouble down the line.

Also, it may be up to you to dig up assets that the other party is hiding. This is not always easy, but it's a step you may have to take.

At our law firm, we have many years experience uncovering hidden assets. There are many ways of doing so, such as by consulting with a private investigator or forensic accountant.

The divorce process is difficult enough without the thought of your ex-spouse hiding assets. Unfortunately, this is common. With that in mind, it's imperative that you use a property division checklist to understand exactly which assets should be divided. Along with this, you'll want to understand your legal rights for investigating anything the other party may be hiding.

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