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Are hidden assets common in divorce?

A breakdown in trust is just one of many different reasons that couples in Georgia might decide to end their marriage. However, when that sense of marital trust dissolves, it can complicate things during divorce. Sometimes a soon-to-be-ex spouse might even try to hide valuable assets from the property division process.

Hidden assets are a big deal because it means that one person does not even have a chance to receive a fair share of marital assets. Unfortunately, it is not always obvious when an asset has been hidden. If an individual is planning to file for divorce, it is a good idea to complete a thorough inventory of all marital assets before broaching the topic with a spouse. For those who had the divorce initiated by their ex, performing this inventory as early on as possible is usually advisable.

If a person suspects that his or her ex is hiding assets but is not sure where to begin, it is helpful to understand the most frequently used methods. A surprisingly popular choice is for the person hiding the asset to simply deny that it even existed in the first place or that the individual somehow lost it. Temporarily transferring the property to a different person is also a common method. Uncovering these deceptions often involves locating a paper trail, which might seem daunting but is generally doable. Many people choose to start by looking at tax documents, which can reveal quite more information than some may expect.

Virtually no one deserves to come out of a divorce with less than one's fair share of the marital property. When one person tries to hide assets, emotions and frustrations can understandably run high. For those in Georgia who are struggling with this situation, an experienced family law attorney can provide valuable insight and assistance regarding the matter.

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