Divorce is challenging enough without factoring in the division of marital assets. You can easily be consumed by anger and frustration during asset division, especially when you realize that your ex-spouse hid some assets from you during the marriage.
On the other hand, your partner will likely be consumed with making sure their hidden assets stay off your radar until the divorce is finalized. To ensure that all of the assets are on the table during asset division, you should hire a divorce lawyer to help you reveal hidden marital assets. Read on to learn how your legal counsel will be of assistance.
1. Analyze the Finances of Your Marriage
Even though marriage is an intimate union, it is still possible for partners to conceal assets from each other. You might only realize you both have amassed more wealth than you were aware of during divorce.
Alternatively, it could be that your spouse didn't share the details of the additional marital assets with you because you weren't interested in knowing every last detail when the marriage was intact. However, it's malicious for your spouse to continue to keep you in the dark during asset division. To ensure you get your fair share of the estate, you should hire a divorce lawyer to analyze your marriage's finances and educate you on what percentage you deserve.
2. Help You Locate Overseas Accounts
Many spouses hiding marital assets use overseas bank accounts. Whether your ex-spouse opened these accounts during the marriage or when the divorce was imminent, your lawyer will bring their existence to light. As long as the money in these accounts is from the marriage, it technically belongs to both of you.
Your lawyer will help you conduct investigations and ensure that by the time divorce proceedings roll around, these assets won't be hidden from the legal proceedings. Your legal counsel will track where all of the funds from the marriage have traveled to ensure that everything is divided in a fair manner.
3. Reviewing Your and Your Ex-Spouse's Tax Returns
Reviewing your past tax returns is one of the first places your divorce lawyer will look for hidden assets. This is because asset ownership is often reflected on tax returns. Your lawyer may also request copies of your spouse's tax returns to see if there are any discrepancies. The lawyer will use any red flags they find to track down unaccounted-for assets and ensure they're brought to the table ahead of asset division.
Divorce can be a complex and stressful process, especially when dividing up assets. Suppose you suspect that your spouse is hiding assets. In that case, it's important to have an experienced divorce lawyer on your side who can help you uncover them soon and protect your interests throughout the divorce process.
Contact a divorce lawyer for more information.