Are you regretting not having paid attention to financial matters prior filing to a divorce? We at McIlveen Family Law Firm understand what you are going through and can help you come out of this rather complicated situation. It’s not a surprise that hidden assets are often suspected in divorce proceedings, usually by the partner who has not been in charge of the family finances while in the marriage for whatever reasons.
What Should I Do if I Think My Spouse is Hiding Assets?
If you think your spouse is hiding assets, or not providing a true accounting of your financial situation you need to quickly hire an attorney. A good attorney can use discovery devices such as issuing special interrogatories or requests for production of documents to your spouse to require your spouse to answer questions and provide documentation about your business and finances. Subpoenas can also be issued to banks, accounting departments, finance groups, and other entities that may have documents that will help uncover whether or not assets are missing or undervalued.
Example of some known hidden assets
There can be many find-it-yourself hidden assets around you.
- Income that was undeclared in the tax returns –. Discuss this issue with your attorney before deciding how to proceed.
- Cash kept in travelers cheques
- Collectible Items –Items like expensive carpets, antiques, art work or even old coins.
- Retirement Account:
- Bank statements. Look at a good time span for unusual deposits or withdrawals and try to link them.
If you are still living with your spouse, now is the time to make copies of all bank documents, accounting statements, business financial records, bills, and any other documents you can find that might help your attorney track down and value your marital assets. Get in touch with us at McIlveen Family Law Firm and give us a chance to help you get the settlement you deserve.