It seems pretty straightforward that marital assets and property should be split fairly between a divorcing couple, but it is not always the case. In some cases, your ex-spouse may hide some assets from the divorce court which means that the judge will not consider such assets when dividing the marital estate.
It is a situation that is likely to leave you shortchanged. Therefore, you need to be on the lookout for any hidden assets and protect your interests regarding property division after divorce. Here is what you can do:
How to locate hidden assets
Your ex-spouse probably thinks that what you don’t know won’t hurt you, which is why they may be subtle with their actions. It means that they may not be so obvious that they have hidden assets or property, and you have to do some work to unearth such instances.
It may take investigations into your spouse’s financial dealings, and you may even need the assistance of someone like a forensic accountant to track things down. The important thing to remember is that there is help out there — you don’t have to do it all on your own.
Once you prove to the court that your ex-spouse failed to disclose the existence of some assets out of malice, the judge is likely to punish them in several ways. Firstly, they could be held in contempt of court or face perjury charges for lying under oath. Additionally, the court could transfer the ownership of the property to you and assign your former spouse the cost of the suit.
It is important to anticipate such challenges in the property division process. When your divorce seems complicated, it’s wise to get some early guidance.