Divorcing spouses don't always report all their income accurately. A party may try to understate, undervalue, or even hide certain marital assets but overstate liabilities. Here are tips on how to uncover hidden assets in your divorce.
Hire a Lawyer Well Versed in Finding Hidden Assets
It's always a bad idea to go through a contested divorce without legal help. If you're concerned about hidden assets, find an experienced divorce attorney in Colorado Springs.
Inspect the Other Party's Voluntary Disclosures
Divorcing spouses make voluntary financial disclosures. Review the disclosures your partner makes. Check for errors or deliberate omissions. An independent appraisal can help you know the real value of contested properties or assets.
Make a Formal Request for Information
If you're not satisfied with the other party's voluntary disclosures, demand involuntary ones. The law mandates your estranged partner to respond to your requests for documents timely and truthfully. Materials that may help uncover financial infidelity include bank records, titles, tax filings, and trust records.
Take Advantage of a Deposition
The answers given during a deposition are recorded. They may serve as an under-oath testimony in the family court. If there is a deposition during your divorce, ask questions on matters you need clarified or put on record.
Consider Hiring Asset Tracking Specialists
If you're having problems uncovering hidden assets, it may be necessary to hire a private investigator or a forensic accountant. Your divorce attorney can refer you to these professionals.
Washington law requires divorcing parties to make a full disclosure of all their assets, income, and debts. Still, some spouses defy their lawyer's advice on financial reporting. Talk to a lawyer with experience in tracking hidden assets if you think your partner is trying to hide crucial information.