Not remarkably, possessions are typically hidden in a divorce scenario. Why - well merely greed,
or the sensations of betrayal or anger at the idea of having to divide properties in the divorce, or
the fear of not having enough after the divorce, all motivate the behavior of hiding possessions.
In divorce, the parties properties are divided. Under the divorce laws of some states they are
divided equally and under the divorce laws of other states, they are divided "equitably" or fairly.
Equitably often indicates equally to overworked divorce judges.
There is no method to know in advance if your spouse has or will conceal assets in a divorce. You
know your spouse better than your divorce attorney does and you will need to alert your attorney
to the possibility of your spouse hiding possessions.
Prior to you signaling to your spouse that you are thinking about a divorce, you should to put
together and/or stockpile paperwork about all of your assets. If you do not have knowledge of
your marital properties, it is time to learn what exists. Open them and write down account numbers
and balances if bank and other declarations come to the house. If you have access to the
cancelled checks, copy those as well. It is not uncommon for a partner who is preparing for a
divorce to move money to good friends or relatives with the strategy being that they will consider
that cash back after a divorce is settled. So, you need to evaluate those records and carefully
scrutinize all suspicious or big transfers that occur in the 2 or three years prior to or just after the
filing of a divorce action.
Taking these simple pre-divorce actions can indicate the distinction in getting a reasonable
settlement in divorce. It will also be exceptionally useful to your divorce attorney to have this
details in advance. You will need to get those records in other ways if banking and monetary
records and other statements are not kept at or sent by mail to your house. You can call the
IRS to obtain copies of any tax returns that you signed. Demand copies of those returns and
have them sent by mail to a different address - either a buddy or relative or your divorce lawyer.
If there are returns that you have not signed, such as service tax records, you will not be able
to acquire copies of those returns from the IRS. If you have access to your partner's place of
business, you might have the ability to find those income tax return there. If you are worried
about your spouse concealing properties in a divorce, you truly do have to find those returns
and make copies of them - for as many years as possible. If you have prized possessions,
antiques, jewelry, art or other antiques in your house, catalog all of them and if you have
appraisals, make copies. It is not unusual for those items to vanish or even to be pawned by
a partner in requirement of more funds.
Let your divorce attorney know if you suspect that your spouse has actually engaged in
some divorce preparation and is concealing properties. Ask your divorce attorney to
subpoena records from other specific or entity who might be associated with helping your
spouse in hiding those properties. Your attorney can utilize the services of an investigator
to assist to get financial records that have actually been kept if need be. These are just
general guidelines. Every case is different and your attorney will be able to offer you
guidance based on your situation.
This content First appeared on McCormick Divorce Solutions in the article Divorce and Hidden Assets