Whenever a Texas couple decides to bring an end to their marriage, there are a certain amount of challenges and complexities for which each spouse should be prepared. One of the most contentious areas of many divorce cases involves the division of marital property. This can especially be true if you are going through a high asset divorce, where the financial stakes can be substantially higher.
Sadly, there are far too many instances where a spouse who has a high net worth attempts in some form or fashion not to disclose all of his or her qualifying marital assets. In a community property state like Texas where the court typically splits all marital property in an equal fashion, ensuring there are no hidden assets can make a substantial difference toward your financial future. Fortunately, there are specific steps you can take to prevent this situation from happening.
Evaluating your partner’s voluntary disclosures
One of the first critical steps to your cause could be to carefully analyze any voluntary disclosure of assets made by your soon-to-be ex. Some of the most frequently omitted assets from this process include stock options, offshore bank accounts, artwork, jewelry, real estate properties and more. Besides looking for hidden assets, you should strongly consider evaluating the proposed valuations of all your partner’s actual disclosures. In the event of any type of dispute, the services of a forensic accountant could prove invaluable.
Other actions that can potentially uncover hidden assets
There are many other means available to you that have the potential to provide proof that your partner isn’t disclosing the full amount of qualifying marital property for your divorce. These can include the following and more:
- Using interrogatories to formally request detailed information of specific financial items and accounts
- Hiring a private investigator
- Forcing your soon-to-be ex to provide sworn testimony in front of the court by means of a deposition
- Online searches for particular evidence or information
Trying to determine the best approach for your unique circumstances can seem daunting and create a lot of sleepless nights. Fortunately, there are professional resources readily available to you that can carefully provide guidance and support through every step of the divorce process, help ensure the discovery of all qualifying marital property and increase your odds of achieving the best outcome possible.