Divorce and Obtaining a Clear Picture of Assets

On behalf of The Law Offices of Cindy D. Sackrin posted in Divorce on Thursday, November 14, 2013.

Property division and other divorce-related issues are best resolved through openness and cooperation.

During a divorce, one spouse may suspect that the other is not accurately and fully disclosing assets for purposes of property division. If that is the case, a family law attorney has options available through the discovery process to uncover potentially hidden assets. This can save the divorcing spouse who believes assets are being hidden expense on forensic accountants and investigators. On behalf of the divorcing spouse, the attorney can request bank statements, pay stubs, cancelled checks, tax returns, brokerage account statements, and credit card and other financial statements. These documents can then be carefully reviewed to determine what the documents reveal.

In addition, it may be useful to conduct a public records' search for the spouse's name to determine if any property was owned that was not disclosed. It is important to have an accurate understanding of the martial estate and a spouse's income prior to entering into a determination of divorce legal issues, including property division, alimony and any child support and child custody considerations.

The simplest way for a couple to conclude the end of a marriage is for the couple to determine divorce legal issues, and resolve disputes, for themselves. If the couple is unable to reach an agreement, the court will step in. By being honest in the discovery process, both spouses can save time, money and aggravation. The discovery process entails the exchange of documents related to each spouse's economic, financial and personal situations. This process allows the parties to decide fairly on a host of divorce- related issues from property division to spousal and child support.

Emotions commonly run high when a marriage relationship is coming to an end. A family law attorney can aid a spouse going through the divorce process with each step along with way to ensure that is proceeds as smoothly as possible for everyone.

Source: The Huffington Post, "Discovering Hidden Assets: What Your Spouse Hasn't Disclosed During Your Divorce," Bonnie Sockel-Stone, et al., Oct. 30, 2013

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