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How an attorney can help if your spouse is hiding assets

On Behalf of | Mar 1, 2017 | High-Asset Divorce

When you are getting divorced in Ohio, there are certain rules in place to help ensure that the division of marital assets is fair. Ohio is an “equitable distribution” state, referring to the language in the laws in Ohio surrounding divorce. Equitable distribution means that you and your former spouse each own whatever you earned during the course of your marriage. Items you purchase and own, such as a home, may only be in one of your names. However, during a divorce, a judge will determine what is marital property and should therefore be divided in the divorce.

After all, if income was the only factor in determining who received what in a divorce, women who stay home to provide for their children could be left with nothing whatsoever, while their spouse, who was working, retains the home, the vehicles and all other assets. Sometimes, in order to prevent the risk of assets being divided in a divorce, people will hide assets prior to filing for divorce or after being served. If you believe your former spouse is hiding assets, you will need the help of an experienced divorce and family law attorney.

An attorney can help locate hidden assets

Sometimes, when people try to hide or cover up assets, they leave an obvious trail. From bank deposits and withdrawals to receipts secreted away for physical investments, like jewelry, your attorney has probably already heard and seen it all. In high asset cases, an attorney may be able to help you by connecting you with a forensic accountant or other professionals who can help locate and place a reasonable value on hidden assets. After all, it’s hard to receive a fair portion of your marital assets if your former spouse isn’t disclosing what the actual amount of assets is.

An attorney can help you divorce for cause

If your former spouse was abusive or cheated on you, you can divorce for cause. While doing so may be more complicated than divorcing without cause, it can also help ensure a favorable outcome to your divorce proceedings. A judge is more likely to understand why you are requesting a more aggressive division of marital assets if your former spouse was unfaithful. The same is true of cases of physical, sexual and emotional abuse, particularly if there are also minor children involved.

If your former spouse had the intelligence and motivation to try to hide assets, it’s likely an aggressive divorce strategy is also in the works. Protect yourself and your financial future by seeking the advice of an experienced divorce attorney if you believe your former spouse is hiding assets.

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