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What are hidden assets in a high-asset divorce?

On Behalf of | Dec 8, 2021 | High-Asset Divorce |

It is often believed that money makes life easier, but when life takes a person down the path to divorce, more money can create more complications for the individual and their soon-to-be ex-spouse. There may be more questions of how to classify property as either marital or separate, and how to divide it according to the laws of the state of Oregon. In some cases, an individual may attempt to hide or conceal money or assets from their spouse during the process of ending their marriage.

Identifying hidden assets

Hidden assets can take on many forms. In some cases, a hidden asset may be an account that an individual opened on their own and funneled marital money into in anticipation of ending their marriage. They can also be tangible assets of value that a person fails to disclose to their spouse and opposing counsel that may otherwise be included in the property division process of their high asset divorce.

During the divorce process, if a person’s income drops suddenly, it may be a sign that they are attempting to conceal some of their income from the proceedings. Similarly, if a business owner’s entity suddenly begins to experience financial troubles at the time of their divorce, it may indicate an attempt to hide business assets.

Finding hidden assets in time

Often when individuals go through high asset divorces, they choose to work with professionals who understand these and other complex legal and financial matters. They may solicit the help of forensic accountants to help them work through the disclosures their spouses provide during property and financial settlement negotiations. Divorce attorneys and financial professionals can help individuals find peace and clarity as they handle the many aspects of ending their marriages.