In most divorces, no matter how emotional or dismaying the event is, the spouses retain enough respect for each other to attempt to conclude the business of separating their lives without unnecessary drama or cruelty.
Sometimes, however, individuals in a divorce who have high-value assets may seek to hide these assets from their soon-to-be former spouses. This is both illegal and unethical, no matter what their private opinion might be about how the wealth was acquired and the other spouse’s contributions to that process.
In the division of assets Greeley, CO attorneys oversee there are usually a few common places where spouses seek to hide assets from each other.
Common Asset Hiding Places
The attorneys with experience in the division of assets Greeley, CO know to look in
- Bank accounts: Large transactions may be attempts to shift funds from known accounts to new ones.
- Tax returns: Checking returns from the last few years will usually reveal assets that might have otherwise been hidden from the other spouse.
- Credit Reports: Credit reports will often reveal credit lines or mortgages that have been kept hidden.
- Payments to relatives or friends: Often debts are invented and monies paid to trusted friends and relatives as a way of moving money temporarily outside of the spouse’s control.
Help with The Division of Assets in Greeley, CO
An experienced attorney can be invaluable when it comes to tracking assets and ensuring that property division in a divorce is equitable and fair. Not only will they have the experience to know where to look, they will also know the procedures for acquiring information and documentation to prove hidden assets. Any spouse who suspects hidden assets should engage an attorney at the earliest opportunity.