Divorce and Hidden Assets

Not surprisingly, assets are typically hidden in a divorce situation. Why - nicely just greed, or the feelings of betrayal or anger at the require to divide assets in the divorce, or the worry of not having enough immediately after the divorce all motivate the behavior of hiding assets.

In divorce, the parties assets are divided. Below the divorce laws of some states they are divided equally and below the divorce laws of other states, they are divided "equitably" my oklahoma city attorneys or pretty. Equitably typically indicates equally to overworked divorce judges.

There is no way to know in advance if your spouse has or will hide assets in a divorce. You know your spouse better than your divorce attorney will and you will need to alert your lawyer to the possibility of your spouse hiding assets. Ahead of you get to that point, even so, there are some straightforward steps to take to stop your spouse from getting able to hide assets. Those steps consist of finding out almost everything you can about your assets before divorce.

Prior to you alert your spouse that you are taking into consideration divorce, you need to have to compile and/or stockpile documentation about all of your assets. If you do not have information of your marital assets, it is time to uncover out what is there. If bank and other statements come to the house, open them and write down account numbers and balances.

If you have access to the cancelled checks, copy those as nicely. It is not oklahoma workers compensation form 3 discussion unusual for a spouse who is planning a divorce to transfer money to pals or relatives with the strategy being that they will give that funds back following a divorce is finalized. So, you need to evaluation those records and cautiously scrutinize all huge or suspicious transfers that take spot in the two or three years prior to or just my oklahoma city divorce attorney following the filing of a divorce action.

Make certain that you know where the copies of your revenue tax statements are. If your spouse has a enterprise, make positive you have a copy of many years of tax returns for that company. All of these documents can be copied and hidden safely someplace outside of the residence in the event that you require them. Taking these simple pre-emptive steps can mean the difference in acquiring a fair settlement in divorce. It will also be incredibly valuable to your divorce attorney to have this information in advance.

If banking and other statements and monetary records are not kept at or mailed to your residence, you will want to acquire those records in other methods. You can make contact with the IRS to obtain copies of any tax returns that you signed. Request copies of those returns and have them mailed to a various address - either a friend or relative or your divorce lawyer. If there are returns that you have not signed, such as enterprise tax records, you will not be able to obtain copies of those returns from the IRS. If you have access to your spouse's place of organization, you could be in a position to discover those tax returns there. If you are worried about your spouse hiding assets in a divorce, you genuinely do need to have to discover those returns and make copies of them - for as a lot of years as possible.

If you have valuables, antiques, jewelry, art or other collectibles in your house, catalog all of them and if you have appraisals, make copies. It is not unusual for those items to disappear or even to be pawned by a spouse in require of much more funds.

If you suspect that your spouse has engaged in some divorce organizing and is hiding assets, let your divorce lawyer know. Ask your divorce lawyer to subpoena records from any other individual or entity who could be involved in assisting your spouse in hiding those assets. If need be, your attorney can use the services of an investigator to help to obtain economic records that have been withheld.