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Assets hidden during an Ohio divorce can be discovered

On Behalf of | Dec 19, 2013 | High-Asset Divorce

Uncontested divorce has grown in popularity over the past several years as more couples try to save money, want to work together for quick resolution or for a number of other reasons. Although these alternatives involving mediation and collaboration have grown, these processes are not for everyone.

An instance in which a spouse may want to stay with the traditional divorce process is when they suspect that their spouse is hiding assets. Suspicion is one thing, but proving that assets were hidden and rectifying the situation under the law often requires experienced talent, which is why it is important to take care when choosing a divorce attorney in Ohio.

But how does an attorney uncover these hidden assets?

There are many ways to help discover whether hidden assets are an issue in a case. In some cases, discovering assets involves comparing different financial forms that were disclosed, like bank statements and pay stubs, tax returns, cancelled checks, mortgage payments or credit card payments. For instance, if a pay stub’s after tax value is higher than the monthly bank deposit, it may indicate a second bank account that was not disclosed.

In other instances, a search of public records may uncover property that was not included in the disclosure. If a spouse receives employment perks and benefits as a part of their job, the employer can be subpoenaed for information concerning these sources of income or assets.

An attorney focused on thorough investigation will even bring in a third-party forensic accountant in complex cases or any situation that warrants this assistance.

Source: The Huffington Post, “Discovering Hidden Assets: What Your Spouse Hasn’t Disclosed During Your Divorce,” Bonnie Sockel-Stone, Oct. 30, 2013