Anyone going through a divorce in Georgia knows that splitting up the marital assets can be one of the most contentious and frustrating parts of the divorce. Trying to ensure that your ex is not hiding money and assets from you and that your settlement is actually an equitable division may be difficult, but Atlanta lawyers know how to find out what your ex is up to and preserve your rights to the marital assets.
One Atlanta family law professional has said that one of the best ways to prevent your ex from shielding assets is subpoenaing records as soon as possible. Because a spouse has the right to subpoena bank records, it makes more sense to ask for the records early on, before an ex has a chance to alter records or transfer money to hidden accounts. If there is a discrepancy between the bank records at the time of the trial and from the original subpoena, the judge may infer that your ex did away with some of the money.
If you are too late and your ex has already taken some of the assets, you may be able to track down shielded assets by following the paper trail. There are very few industries that operate without some kind of trail, and a spouse can attempt to find the missing assets by following the trail. In many situations, it doesn’t even matter where the assets end up or what is being done to them. If a spouse is able to show that his or her ex transferred assets with the intent to hide them from the spouse, a family law court may order the ex to pay half of the amount hidden.
Divorce is often an extremely stressful time and it is no surprise that former couples will fight to maintain their assets. According to Georgia law, however, all shared assets need to be equitably divided and, thus, it is extremely important that all parties are aware of all assets. While some spouses will work to shield or hide money and property from their soon-to-be-ex- wife or -husband, divorce attorneys can track down and uncover missing assets.
Source: ABA Journal, “Show Me the Money: Helping Clients Find and Protect Assets in a Divorce,” Stephanie Frances Ward, Feb. 6, 2012