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Locating all marital assets is key to getting a fair divorce

Getting divorced can cause a lot of stress and upheaval in your life. It's only natural to want to get the process over with as quickly as possible. Sadly, far too many people rush the processes involved in divorce, which can result in less-than-optimal outcomes for one or both spouses. Ensuring that a divorce is fair to everyone often involves quite a bit of research and planning.

The two areas that are often most hotly contested in a divorce are asset division and custody of the minor children from the marriage. While custody proceedings are often relatively straightforward, there's potential for secrets or hidden assets to impact the outcome of the asset division process. The more assets you and your spouse acquired during your marriage, the greater the potential for your spouse to hide assets to avoid splitting them in divorce.

If the courts don't know about it, they can't divide it

Colorado is an equitable distribution state. The courts have some discretion when it comes to how assets get divided. Generally, they seek to create an arrangement that is just and fair to all involved. They will consider a variety of factors to determine how to best divide the marital assets between both spouses.

When certain assets, either income, bank accounts or even valuable possessions, are intentionally left off of your inventory of possessions, the courts won't have an accurate idea of what your assets really are. That can lead to an uneven or unfair asset division outcome, because the courts weren't aware of certain hidden assets.

Professional help can assist you in tracking down assets

One of the hardest parts of dealing with hidden assets is finding them. Many times, there isn't a clear or obvious financial record of the assets. Perhaps your spouse had a portion of each paycheck automatically deposited in an international account.

Maybe he or she withdrew a hundred dollars a week in cash over various debit card transactions, resulting in a substantial hidden stash of liquid capital. It's even possible to use hobbies or collections as a means of hiding expensive purchases or excess income. Knowing the purchase price or market value of those items could help you substantially.

A forensic accountant may have the skills to review your financial records for evidence of these kinds of issues. These professionals excel at locating hidden assets and finding patterns that could result in hidden assets. Knowledge of a secret account could help you when it comes time to create an inventory of assets for the divorce courts. Information about the attempt to conceal assets could also have an impact on the division of other assets in your divorce. It's always best to know for certain whether or not hidden assets could be an issue in your divorce before proceeding.

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Law Office of Alexandra White, PC
12625 E. Euclid Dr.
Centennial, CO 80111

Phone: 303-416-5940
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