How To Locate Hidden Assets In A Divorce
Planning for a divorce in can become more complicated if you do not have knowledge of the marital finances, if you do not trust your spouse or if your relationship with your spouse has become particularly contentious. These circumstances can make the division of marital property more stressful. In cases like these, you may have concerns about whether or not you know where are the assets are held, and whether or not your spouse is attempting to hide or conceal assets.
While Georgia divorce law requires both spouses to provide a full disclosure of assets and debts, it is not uncommon for a party to attempt to hide assets so that they will not be divided during the divorce. If you are wondering how to locate concealed assets in your divorce case, our Atlanta divorce lawyers have information that can help you. A thoughtful and strategic approach will answer your questions and calm your concerns.
Obtain Account Statements and Income Tax Returns
If you are able to do so, obtain any bank account or other account statements that can clarify assets. In addition to existing account and investment information, you should also request income tax returns, which can reveal assets that your spouse may have reported to the IRS but that she or he is attempting to conceal in your divorce. Our Atlanta divorce lawyers can also help you obtain these documents and others through the Discovery process.
Work with an Appraiser
Sometimes a spouse will attempt to conceal assets by failing to disclose the actual value of something, like a vacation property, a piece of artwork or a collectible motor vehicle. In such cases, you can hire an appraiser who has expertise determining valuations for the particular kind of property in question.
Hire a Forensic Accountant
While you may be able to access some financial documents on your own, you may require assistance obtaining and evaluating other critical information. For example, if your spouse owns a business, she or he could be hiding marital assets through the business. Or, for instance, your spouse might have opened a bank account without your knowledge, and you may need help seeking information about that account and any assets contained within it. Here is where a forensic accountant can help. You can work with your divorce attorney in Atlanta to hire a forensic accountant who will be able to obtain and investigate many different kinds of financial records in order to determine whether, how, and where your spouse is hiding assets.
In cases where one spouse suspects that the other is attempting to conceal assets so that they will not be divided in a divorce, a forensic accountant can be crucial to ensuring that all marital property is divided equitably.
Contact a Divorce Lawyer in Atlanta
If you have questions about locating hidden assets in your divorce, our Atlanta area divorce attorneys can assist you. Contact Kaye, Lembeck, Hitt & French today to learn more about how we can help.