Sometimes, in a divorce, a spouse may attempt to conceal or hide assets to prevent the assets from coming up for division.
What do you do if you suspect that your spouse is attempting to conceal some of his/her assets to avoid sharing them with you? Fortunately, you have tools that can help locate and identify these hidden assets.
In a divorce, the first step is to create an inventory of the financial assets that are owned by the spouses. These assets will be divided into marital and separate assets, based on when they were acquired, and other factors.
In many marriages, both of the spouses do not have equal access to information about all of the assets in the marriage. One spouse, may have little information about all of the assets, and very little access to financial information. In such cases, the spouse must ask for financial disclosure, or for information about all financial records.
When such records are produced, you may have reason to believe some assets are being concealed. It is next to impossible for you to locate hidden assets on your own, but through a legal process of discovery, you can get your spouse to voluntarily disclose all information.
As part of the discovery process, your attorney will ask your spouse to furnish documentation about all financial assets, including statements, mortgage applications, income tax returns and others. The process of discovery will also involve asking your spouse questions, or interrogating him in writing about any hidden assets. Part of the discovery process can also include inspections of safe deposit boxes. All these tools can help you identify conceal assets.
If you believe that your spouse is currently concealing assets to avoid division during the divorce, speak to a Colorado divorce lawyer.