In a divorce, it is essential for both parties to fully disclose their assets and liabilities. The disclosure stage ensures that each party gets a fair share of marital property and does not end up with an inequitable portion of the debt accumulated over the course of the marriage. Hidden assets are a way that one spouse may try to prevent the other from receiving specific assets, spousal support or a certain amount of money.
Whether it’s by hiding cash, allowing someone to hold assets or setting up new accounts, hiding assets is an intentional effort to affect the final financial settlement. If a Mississippi spouse suspects this is happening, it is prudent to first carefully review all financial documents. A close look accounts and records can reveal if something is missing or something was not accurate with the other party’s financial disclosure.
If additional requests for information are not met, a spouse may have to subpoena financial records to prove the existence of missing money or assets. It is also possible in some cases to issue a deposition that would mean the other party must answer questions about his or her finances while under oath.
When a Mississippi spouse suspects hidden assets could affect his or her financial future, quick action is important. There is benefit in working with an experienced attorney who can provide guidance in these financially complex matters, helping fight for long-term interests. There is a lot on the line, but one does not have to navigate this process alone.