Do you ever feel like you know just enough about divorce tobe dangerous? Let's see if we can fill in some of the gapswith the latest info from what I have discovered consultingwith some of my clients.
I don't claim to be an divorce expert, but as an entrepreneurI have seen my fair share of spousal disputes over money.
When certain couples become successful it seems to changethem, why? I'm not sure but success for some people is a stumbling block in other departments. and when it comesto divorce it makes matters worse.
I intended this article to be more of a resource as to howwhen you don't put the proper assest protection in placebad things can happen to good people and vs versa.
If you base what you do on inaccurate information, youmight be unpleasantly surprised by the consequences.
Sneaky undisclosed Assets are common in a divorcesituation. Why - well simply greed, or the feelings ofbetrayal or anger at the need to divide assets in thedivorce, or the fear of not having enough after the divorceall motivate the behavior of hiding assets.
In divorce, the parties as.sets are divided. Under thedivorce laws of some states they are divided equally andunder the divorce laws of other states, they are divided"equitably" or fairly. Equitably often means equally tooverworked divorce judges.
There is no way to know in advance if your spouse has orwill not reveal assets in a divorce. You know your spouse betterthan your divorce attorney will and you will need to alertyour attorney to the possibility of your spouse covering upassets. Before you get to that point, however, there aresome easy steps to take to prevent your spouse from beingable to not reveal assets. Those steps include finding outeverything you can about your assets before divorce.
Before you alert your spouse that you are consideringdivorce, you need to complile and/or stockpiledocumentation about all of your assets. If you do not haveknowledge of your marital assets, it is time to find outwhat is there.If bank and other statements come to thehouse, open them and write down account numbers andbalances.
If you have access to the cancelled checks, copy those aswell. It is not unusual for a spouse who is planning adivorce to transfer money to friends or relatives with theplan being that they will give that money back after adivorce is finalized. So, you should review those recordsand carefully scrutinize all large or suspicious transfersthat take place in the two or three years prior to or justafter the filing of a divorce action.
Make sure that you know where the copies of your income taxstatements are. If your spouse has a business, make sure youhave a copy of several years of tax returns for thatbusiness. All of these documents can be copied and hiddensafely somewhere outsided of the house in the event thatyou need them. Taking these simple pre-emptive steps canmean the difference in obtaining a fair settlement indivorce. It will also be incredibly helpful to your divorceattorney to have this information in advance.
If banking and other statements and fina.ncial records arenot kept at or mailed to your house, you will need toobtain those records in other ways. You can contact the IRSto obtain copies of any tax returns that you signed.
Request copies of those returns and have them mailed to a differentaddress - either a friend or relative or your divorceatttorney. If there are returns that you have not signed,such as business tax records, you will not be able toobtain copies of those returns from the IRS.
If you have access to your spouse's place of business, you may be ableto find those tax returns there. If you are worried aboutyour spouse not revealing ass.ets in a divorce, you really do needto find those returns and make copies of them - for as manyyears as possible.
If you have valuables, antiques, jewelry, art or othercollectibles in your home, catalog all of them and if youhave appraisals, make copies. It is not unusual for thoseitems to disappear or even to be pawned by a spouse in needof more funds.
If you suspect that your spouse has engaged in some divorceplanning and is covering as.sets, let your divorce attorneyknow. Ask your divorce attorney to subpoena records fromany other idividual or entity who could be involved inassisting your spouse in hiding those assets. If need be,your attorney can use the services of an investigator tohelp to obtain finan.cial records that have been withheld.
(c)copyright 2006 Niche Profit Marketing-------------------------------------------------------Divorce-How-To-Rebuild-Your-Life--------------------------------------------------------You can pass this article around freely but please leave the resource box intact with the link pointing back to our site.here is the linkhttp://www.niche-profit-marketing.com/divorce-advice-kit
