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Is a spouse is hiding assets during a divorce?

On Behalf of | Jun 23, 2017 | Uncategorized |

Though divorces are rarely considered easy, some divorces proceed with fewer complications than others. A divorce between individuals who have not had children and who have not comingled their assets may be completed with fewer negotiations and disagreements than one where custody, support, and property division battles are likely to occur between the divorcing parties. The presence of money and significant assets does not necessarily mean that a divorce will be hard, but often, Colorado residents who enjoy lucrative lifestyles may find that there are challenges in identifying and dividing their property.

While it may seem strange to imagine that a husband and wife are not aware of each other’s assets, one must only consider second marriages or later in life marriages where individuals may come into their marriages with money and property from their prior years of living. Spouses may own retirement accounts, savings plans, offshore holdings and other investments, without their spouses’ knowledge or participation.

Should these marriages end though, challenges can arise when the partners are required to list and organize the property they own. If a person cannot name the property owned by their spouse, how will they know if their spouse is telling the truth?

In complicated scenarios, such as this individuals going through high asset divorces, one can benefit from working with divorce attorneys. Legal professionals can guide their clients through the litigation and discovery processes, and through interrogatories, depositions and document requests. They may suggest other strategies for gaining knowledge about the clients’ spouses’ assets, and individuals with particular questions about these strategies are encouraged to discuss them with their family law representatives.