If you and your spouse have accumulated significant wealth throughout the course of your marriage, there is a chance that he or she will attempt to hide assets during divorce proceedings.
Whether your ex feels that the property or assets are theirs because he or she earned the money to purchase them or just wants to hoard all of the marital wealth, you should closely monitor all financials throughout the divorce process.
Ask for copies of financial records
Oftentimes one spouse handles the finances while the other spouse deals with keeping the household or childcare. If your role in the union left you in the dark about your financial situation, start by asking your former partner for records. In some instances, there is an agreeable exchange of information and no reason to worry yourself further. However, in other instances, one spouse tries to keep assets out of the divorce proceedings in order to retain sole ownership of them.
Seek assistance from your attorney
If you have a sneaking suspicion that your former partner is attempting to keep some accounts from you and your attorney, bring this to your lawyer’s attention. He or she can walk you through the legal process to uncover any additional wealth not immediately disclosed by the other party. Attornies can formally request financial documents such as tax returns, financial statements, banking records and loan applications. Supply your lawyer with any financial records in your possession, as well.
Though you may believe your prior spouse to be an honest person, people often show their true colors while going through a divorce. Be smart and protect your interests.