Once you decide to divorce, it won't be long before you're making a checklist of all your assets and debts. It's critical to have this nearby at all times, as it'll help you make informed decisions.
One thing you may be concerned about is hidden assets. While you hope your ex-spouse doesn't do this, it's possible they could take steps to hide assets from the court.
Here are a few steps you can take to uncover hidden assets during your divorce:
- Create a checklist of assets you're familiar with: Once you have a checklist in place, make sure that all these assets are included in the divorce. For example, if you find a bank account missing, inquire as to why.
- Inspect voluntary disclosures: Both individuals will make voluntary asset disclosures, thus giving you the opportunity to learn more about the property that needs dividing. After you read the disclosures, pinpoint any omissions or errors.
- Use the deposition to your advantage: This allows you to inquire, on the record, about assets, including those that you believe are hidden.
Finding hidden assets during your divorce is easier said than done, but it's imperative that you dig around to find everything. Neglecting to do so could result in you missing out on something that's owed to you.
There's a lot to think about during your divorce, but don't lose sight of all aspects of property and debt division. When you know what's going on and how to protect your legal rights, you won't have nearly as many concerns about making a mistake.