FINDING HIDDEN ASSETS IN A DIVORCE
Denver, CO High Asset Divorce Firm
Property division in a divorce can be a complicated process. What makes it even more complicated is that sometimes, a spouse will try to hide assets to avoid them getting divided. Even if you think your spouse would never do such a thing, you’d be surprised how often this occurs. That is why it is crucial to have an experienced family lawyer who can carefully comb through you and your spouse’s assets to ensure they are accounted for and evenly distributed.
Hidden Assets in a Divorce
The first step for dividing assets in divorce proceedings is to gather a complete picture of each spouse’s assets. This will be used to generate a financial picture of the separate and shared assets. Separate assets refer to any property acquired prior to the marriage, following the separation, or assets that were gifted/inherited. Shared property, also known as “marital property,” is any property that was acquired during the marriage.
It can often be hard to tell what property belongs to who, which is why it’s important that the court sees both shared and separate property. When determining how to divide debts and property, a court must also consider the value of each spouses’ separate property.
Colorado is an equitable distribution state as opposed to a community property state. This means that the assets and debts are to be divided fairly and equally. However, things can’t be divided evenly if not everything is accounted for and properly valued. You’ll also want to look for assets in out of state or country accounts.
Hidden assets appear to be more of a problem in high-asset divorces. A spouse of high assets might try to hide things like offshore bank accounts, deferred compensation, stocks, and business, international, or retirement assets. At Litvak Litvak Mehrtens and Carlton, we are highly experienced in high-asset divorces. This means we know what to look for when uncovering hidden assets.
Why You Need Litvak Litvak Mehrtens and Carlton, P.C.
In the case of finding hidden assets and protecting your rights to marital property, you need someone with the knowledge and experience it takes to properly represent you. At Litvak Litvak Mehrtens and Carlton, we have over 65 years representing the Colorado area in high-asset divorce cases. Our attorneys are skilled in locating hidden assets and properly valuing them in order for them to be equally distributed between you and your spouse. If you have any questions about finding hidden assets in a divorce, contact us today. Give us a call at 303-951-4506 or fill out our intake form online.