Unless a prenuptial or postnuptial agreement is involved in a marriage, most property and assets are considered to be jointly owned. This means that when the couple decides to divorce, these assets, no matter who they originally belonged to, will be divided among them. While the property division process can be complicated and emotional, a spouse who is not forthcoming can further complicate the issue.
How can you uncover hidden assets during dissolution? It can be difficult for individuals in Texas and elsewhere to focus on the details of the entire process. Oftentimes, property division is contentious. What can further complicate the matter is having one spouse who is taking the time to hide certain assets from the other. In some cases, this is done strategically throughout the marriage or is done when it is clear that the marriage is coming to an end.
It is one thing to not be clear about all assets, especially if a couple has been married for numerous years. However, it is a completely different situation to have a spouse specifically take the time to hide assets from the other spouse so they can walk away from the marriage with more. The best way to address this matter is to itemize anything and everything that comes to mind. This could be followed by the usage of financial experts, such as a forensic accountant.
Whether it is amicable or not, divorce is a tough event to go through. For some, this process can significantly impact their lives. Therefore, it is important to get all the necessary details, including the assets and property involved. This can help you arrive at a fair agreement.