Is Your Future Ex Hiding Assets?
Assets and Finances play a big role in the divorce process. Howard Lewis & Petersen can help.
Getting an official divorce from someone you expected to spend your life with can be tough. What’s worst is them parting ways without giving you entitlement to the property and assets you’re due by law. It could very well be an amicable divorce and they simply forgot about certain assets. A Utah divorce attorney will work hard to get you everything you deserve. The vows may be broken, but the life you’ve been accustomed to does not have to end. Furthermore, hiding assets during your divorce can cause you to be penalized and faces serious consequences.
Where Your Future Ex Can Hide Assets
Financial Records
Your soon to be ex should be willing to share all of their financial records with you. This is the best way to discover hidden assets. They should also provide tax returns and cash on hand. Beware of someone that is reluctant to share his or her financial information.
Custodial Account
There is nothing worse than using the kids to hide assets, but it happens. This involves setting up a separate account using your child’s social security number. This is perfectly, legal, but unscrupulous and could cause additional penalties if this type of fraud is discovered.
Invest In Bonds
Your ex can have stocks and bonds that you know nothing about and what’s worst is that there is no interest reported on their tax return. It would take a legal professional with expertise in hidden assets to make this discovery. When a future ex is not willing to share there are plenty of ways to hide money and assets.
Get the Help You Need
A Provo divorce attorney at Howard Lewis & Petersen, P.C. will fight hard for your legal rights during your divorce. Finding closure can be hard enough, don’t deal with a difficult ex that is not willing to share valuable information that will determine your financial future. For more assistance with your divorce, contact our office to schedule an appointment today.
