Upon making the decision to dissolve a marriage, many individuals in Montana may wish to begin taking steps to prepare to safeguard their financial futures. However, forming a strategy for property division negotiations can be complex at times, especially if one feels the other party could be hiding assets. Since hidden assets can have a devastating impact on the outcome of a divorce, knowing where to look for similar assets could prove vital.
According to experts, there are a multitude of ways in which one may attempt to conceal assets prior to entering divorce proceedings. Experts suggest that some may attempt to deny that an asset exists or claim that a possession was lost. In other scenarios, a person may also try to keep assets hidden by giving ownership of an asset to a third party or by creating a false debt.
While uncovering the presence of hidden assets can be difficult at times, there are certain places a person can look that may prove helpful. For instance, one who feels that another could be trying to hide assets could find it beneficial to look through recent tax returns and mortgage documents. Uncovering and identifying any potentially hidden assets could prove vital to obtaining a fair and equitable portion during divorce proceedings, but it can also be a complex process.
Individuals who feel that the other party could be attempting to hide assets prior to divorce may find it beneficial to seek assistance early on. By consulting with a family law attorney, a person in Montana could obtain much-needed advice on where to look for any possible hidden assets. An attorney can also provide guidance on how to identify and obtain the proper value of all marital assets and assist a client in pursuing the most favorable outcome achievable during subsequent legal proceedings.