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Are you worried that your ex is hiding assets in your CO divorce?

Divorce can bring out the worst in people. After all, it is an emotional time and it involves the end of a very intimate relationship. This can lead otherwise calm and rational people to behave in aggressive and bizarre manners.

People who love their children and want the best for them could drag their children into the middle of a protracted court battle. Other people who are typically responsible may start frivolously spending money to diminish the marital estate.

In some cases, one spouse will intentionally hide assets from the other spouse and the courts in a divorce. This is often done in an attempt to "win" in the divorce.

High asset marriages can create big incentives to hiding assets

The more overall value you have in assets from your marriage, the greater the potential incentive for your ex to hide assets. After all, Colorado courts will do their best to divide your assets in a manner that is fair to both of you.

The courts will use the equitable division standard that looks at the circumstances of your marriage, except for marital behavior or misbehavior, when deciding how to fairly split your assets. However, the courts rely on your self-reported inventory of assets and debts to make those division decisions.

When there are substantial assets missing from that inventory of marital assets, the courts cannot make a fully informed and accurate plan. This is why it is so important to carefully review your financial records and make sure that there is nothing missing from your inventory of assets and property checklist.

There are many places that your ex could hide assets

During a divorce, it is common for one spouse who suspects hidden assets to work with a forensic accountant. These financial specialists have experience and education about how to track down hidden funds and locate potential sources of hidden assets. Routine cash withdrawals, as well as hidden bank accounts, are relatively straightforward for a professional forensic accountant to locate.

It is possible, however, that hidden assets will not take a financial form. Your spouse may have decided to purchase items of high value that he or she knows you have no interest in, whether it is couture fashion that can be resold for significant money or a collection of classic cars. Physical possessions can represent a substantial investment.

Even if you have no interest in the items in question, it is important to know their value for the purposes of dividing your property. That way, the courts can allocate a reasonable amount of assets to you to offset the value inherent in the collection that your spouse will retain. Locating and properly valuing hidden assets is one of the most important steps you can take to ensuring a fair outcome to the asset division process.

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Centennial, CO 80111

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