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Uncovering the presence of hidden assets during a divorce

On Behalf of | Apr 27, 2020 | Divorce

Upon choosing to dissolve a marriage, many individuals in Arizona and elsewhere may have concerns about how the outcome of the situation may impact their financial futures. While taking steps to prepare for the financial side of divorce may be imperative, it can also be a challenging process. One issue that many individuals might not expect to encounter during divorce involves the presence of hidden assets and as such concerns can have a significant impact on the outcome of a divorce, finding ways to uncover hidden assets could prove vital.

Studies indicate that one way to identify the presence of hidden assets is to understand how a person might attempt to conceal possessions. Some of the most common ways others may attempt to hide assets can range from attempting to deny their existence or claiming that they are no longer in possession of the asset. Experts also suggest that some may try and hide assets by transferring ownership to another party.

Experts also indicate that it might not be uncommon for individuals to create fake financial obligations to conceal assets. When it comes to uncovering the possible presence of hidden assets, it might be beneficial to start by taking a closer look at previous tax returns. As there could be a multitude of places and ways a person may attempt to hide possessions, seeking advice on how to uncover such behavior could be essential.

Hidden assets can have a significant influence on the outcome of a divorce. Those who suspect such behavior and wish to better understand how to uncover hidden assets could benefit from retaining the services of an attorney for guidance. An attorney in Arizona can address all a client’s concerns and assist him or her in preparing to seek the most favorable outcome achievable concerning the future during subsequent divorce proceedings.