What To Do To Prevent Your Spouse From Concealing Assets In A Divorce

A marriage is based on trust. Couples that are open and honest with each other can approach any issues that arise confident that their spouses are hearing their concerns. When they decide how to address these matters, they know that they are both committed to making the relationship work.

When that trust is damaged, it can be impossible to repair. If the couple continues to struggle with the challenges that accompany most marriages, they may consider filing for a divorce. However, what these couples fail to understand is that the nature of the relationship may change drastically once the divorce has been filed.

As part of the divorce process, the couple may begin having discussions about issues concerning child custody and property division. While the spouses may have enjoyed positive interactions in the past, these matters can frequently lead to significant disagreements.

In California, property division can be an extremely complicated matter for couples to resolve. Since the state follows community property rules, all assets that are acquired during the marriage must be divided equally between the parties.

Some spouses may not completely disclose all of the assets that they own. They may conceal income that they obtained while being self-employed or may underreport other wealth that they accumulated during the marriage.

It can be difficult to determine if a complete picture of the individual's assets is being presented if documentation is not available. An extensive review of the couple's finances may be needed to determine if any income is missing.

Spouses will also want to be sure that they freeze any joint accounts that they have before filing for divorce. This includes checking and savings accounts, as well as any credit cards that they may have together. This can prevent a spouse from draining the accounts or running up charges on the card during the divorce and can help determine if any income is being concealed.

If you are contemplating moving forward with a divorce, it is crucial that you prepare for all of the things that may happen throughout the process. While you are considering your next steps, you should discuss your specific situation with an experienced family law attorney.

An attorney can ensure that you are prepared before you file for your divorce, which will be extremely important should questions about assets arise. This will allow you to have all of the information you need as you move forward and help you present a clear picture of your finances. You need to exercise caution before making any agreements about the division of marital property, as these decisions can be difficult to change at a later point.