Cleveland Family Law Attorneys

Ways To Find If Spouse Is Hiding Assets In A Divorce

The issues that need to be resolved in a divorce case in Ohio somewhat depend on the circumstances of the marriage. If the couple has minor children, they will need to make child custody, parenting time, and child support determinations. However, divorces that do not involve a minor child will not need to address any of those issues. Every divorce will need to deal with property division.

How complicated this process will depend upon the type and amount of the assets a couple owns. If they do not have many assets, then dividing them could be a fairly simple process. Ho2wever, if the couple owns many assets, it can be very complicated. The couple may need to have business appraisals, property appraisals, value collectibles, divide investment accounts, and other types of assets. This whole process starts with finding and disclosing all of the marital assets.

Couples cannot divide an asset one of the parties does not know about. Both parties are required to disclose all assets, but that does not mean everyone does this. So, if a spouse thinks that the other side is hiding assets, there are some ways to try to find them. One of the best ways could be by analyzing tax returns. People should look for deductions for property taxes. Also, look for interest and dividends received to see if there is an account the spouse may not have disclosed. Analyzing capital gains and supplemental income can also show that the spouse is hiding an asset.

Each divorce in Ohio is unique, but each divorce will involve the division of assets. How the assets are divided will depend on many factors, but it is very important to at least know about all of the marital assets so each spouse knows what they are dividing. This can be a complicated process, but there are ways to find if a spouse is hiding assets.