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Finding hidden assets amid a divorce

It goes without saying that many separating spouses simply do not trust each other. A loss of trust is quite common in any divorce. Any time there is mistrust in a marriage, it’s also probable that one or both spouses could have hidden assets or other property from the other. In the event of a divorce, finding assets or other things that have been hidden will help to ensure that the individual is treated fairly and equitably. Here are some ways those in Kansas can find hidden assets or property during a high asset divorce.

Understand how things are hidden

In order to find things that have been hidden, it is important to understand how the other party could conceal them. Excuses and lies are a dead giveaway. The spouse may try to say that the asset was lost or deny that the asset in question even exists. He or she may have also transferred the assets to another party. Although it can be difficult to prove these, keep in mind that there is usually a paper trail with most assets.

Review tax returns

Reviewing tax returns from years past is sometimes a good way to reveal assets that may have been hidden by a soon-to-be former spouse. Examine things like capital gains and losses, interest, dividends and supplemental income. It may be beneficial to seek the assistance of professionals such as financial advisors or attorneys when reviewing tax returns.

Divorce is often viewed as the breakup of a partnership so, legally, marital assets must be divided.  The dissolution of a marriage is challenging and there are many difficult decisions to make during this time. Those in Kansas who are contemplating a marital breakup or have questions about high-asset divorce can obtain guidance and ensure that personal rights are protected by speaking with an experienced family law attorney.