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Hidden assets could influence the outcome of a divorce

On Behalf of | Feb 24, 2022 | Divorce |

When going through the end of a marriage, individuals in Mississippi and elsewhere may encounter a variety of topics to address and difficult choices to make. When preparing a strategy to the topic of property division, identifying and valuing marital assets could prove vital, but it can also be a complex endeavor. The presence of hidden assets may only act to further complicate matters and finding ways to uncover such assets during a divorce might be essential to protecting one’s future.

Uncovering hidden assets

When it comes to uncovering hidden assets, knowing what types of behavior might act as red flags could prove imperative. For instance, experts indicate that those who attempt to hide assets may be more inclined to exhibit suspicious financial behaviors when facing a similar life change. Being secretive about finances or attempting to keep the other party from taking an active role in financial decisions are just two possible examples of behaviors that might indicate a desire to hide assets.

Knowing some possible places to look to uncover hidden assets could also be beneficial. Experts suggest that reviewing banking and investment account statements could be a good place to start, and recent tax records could also hold an abundance of useful information about marital assets. It could also be helpful to know that those who seek to hide assets might also consider giving items to family members or close friends for safekeeping until after a divorce is finalized.

Where to turn for advice

Hidden assets could have a significant influence on the outcome of a divorce and uncovering such assets can be a complex process. Those who have questions about how best to approach this process may find it helpful to speak with a family law attorney early on for advice on every vital component of preparing to dissolve a marriage. Such advice could prove integral to helping a person in Mississippi understand what to expect from the process and develop a strategy with which to safeguard his or her future during divorce proceedings.