The decisions you make during divorce can have a significant impact on your finances. If your spouse hides assets, though, that can undermine your ability to protect your interests. It is crucial in this situation to take appropriate action to protect your interests.
How might people hide assets?
During a divorce, some individuals might attempt to hide assets to minimize their financial obligations or gain a favorable settlement. Common methods include.
- Transferring assets to friends or family temporarily
- Underreporting income or overreporting expenses
- Creating fake debt
- Using offshore accounts
- Investing in items that are hard to value, like art or collectibles
If your spouse is hiding assets, you may notice secretive financial transactions, or your spouse may refuse to share financial information with you. You may also see sudden changes in their spending habits or your shared assets may suddenly decrease in value.
What can you do if your spouse is keeping financial secrets?
If you suspect asset concealment in Georgia, consider the following steps:
- Document everything: Keep detailed records of all financial transactions, communication, and any suspicious behavior.
- Conduct a financial audit: Hire a forensic accountant to review your finances and identify discrepancies or hidden assets.
- Legal action: Consult with a skilled divorce attorney who can guide you through the legal process and ensure your rights are protected.
- Utilize discovery tools: Your attorney may use legal tools like subpoenas or depositions to uncover hidden assets.
You can protect your rights if your spouse hides assets
If you suspect your spouse is hiding assets, securing the assistance of a skilled divorce attorney is crucial. Contact us today at 470-663-9404 or visit our website to discuss your divorce with a member of our team in an initial consultation.