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Knowing where to look for hidden assets during divorce

When facing the end of a marriage, many individuals in California and across the nation may consider it vital to take steps to protect their financial futures. However, divorce can be a complex process and being able to identify and value all marital assets can be challenging, especially if one party is attempting to hide assets from the other. Those who wish to prevent a similar scenario from affecting the outcome of their divorce could benefit from seeking guidance on how to uncover hidden assets.

Experts suggest that there are a variety of ways in which a person may attempt to hide assets during divorce. In some cases, a person may simply attempt to deny that they exist or claim that he or she is no longer in possession of said assets. Experts also advise that some may even attempt to keep assets out of divorce proceedings by transferring ownership to another party.

Although proving that the other party is hiding assets can be a challenging task, there are a few places one can look that may prove helpful in uncovering any potentially hidden assets. One place to start lies with recent tax filings, and any discrepancies within these documents could be warning signs of unlawful activity. If applicable, a person may also find it helpful to check mortgage closing documents, as the information within these documents could prove helpful in identifying assets.

Hidden assets can have a substantial impact on the outcome of a divorce. Those who feel that the other party is culpable of such behavior could choose to speak with a family law attorney for guidance on how to take inventory and uncover any potentially hidden assets. An attorney in California can provide a client with advice on how to properly identify all marital assets and assist him or her in pursuing the most favorable outcome achievable during subsequent divorce proceedings.

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