Divorce is a tumultuous and emotionally taxing process. If you suspect your spouse is hiding assets to undermine your share of the marital property division, you need to protect yourself and ensure you receive a fair divorce settlement.
The following provides information about guarding yourself against spousal nondisclosure and hidden assets in a Colorado divorce. For case-specific guidance, consult with an experienced Boulder, CO divorce attorney.
Be Proactive
If you suspect your spouse is hiding assets or will hide assets during your divorce, be proactive. This is especially important if your spouse handles financial matters for the household.
Write down all the assets you and your spouse own jointly and separately. You will need this information for your divorce paperwork.
You must access, gather, and copy all the asset documentation you can identify. These assets may be owned by you and your spouse jointly or owned solely by your spouse.
Asset documentation may include:
- Investment accounts or portfolios;
- Credit card statements;
- Checking and savings statements;
- Mortgage documents;
- Deeds and titles;
- Retirement accounts;
- Tax documents;
- Paystubs;
- Insurance videos for replacement of goods;
- Jewelry valuations and photos of jewelry;
- Art valuations and pictures of art or collectibles; and
- Employee benefit statements.
These documents will allow you to look for transfers of funds or property. Sometimes, spouses move the property to new accounts or relatives for safekeeping until a divorce is finalized.
Document this and any secretive or suspicious behavior involving assets taken by your spouse. Keep your notes and documentation in a safe place inaccessible to your spouse.
If you cannot trace assets or asset behavior, do not be concerned. There are experts in the financial field who can uncover hidden assets and trace your spouse’s economic activities to identify financial disparities.
Retain a Financial Expert to Help
Some financial professionals specialize in asset discovery, tracing, and documentation. They are called forensic accountants.
Experienced divorce attorneys often recommend forensic accountants to clients with complex or hidden assets. Forensic accountants search for suspicious activities that link to new accounts and transfers of assets.
Retain an Experienced Divorce Attorney for Legal Protection
Your divorce attorney will use the legal process to protect your best interests, including your right to a fair and equitable division of marital assets. Your attorney will use the discovery process and necessary motions to bring financial matters to the court’s attention.
Subpoenas may be used to obtain financial records in your spouse’s possession. Spouses deliberately hiding assets during a divorce are subject to court penalties and a reallocation of marital property in the disadvantaged spouse’s favor.
Contact an Experienced Boulder Divorce Attorney Today
Uncovering hidden assets is crucial to ensuring you a stable financial future. The experienced Boulder divorce attorneys at Stahly Mehrtens Miner LLC can provide the professional help you need to navigate the hidden asset process successfully.
Stahly Mehrtens Miner LLC handles complex and high asset divorces in Boulder and is unafraid to litigate a divorce in court when necessary. Let us take the complication and fear out of your divorce.
Call the family law team at Stahly Mehrtens Miner LLC to schedule your divorce consultation today – (303) 797-2900.