Often when couples divorce, one spouse is responsible for paying the other. Divorce can bring out the worst in people and in some instances causes the payor of spousal support to be less than honest when it comes to his or her financial picture. Hidden assets have become one of the top issues when it comes to Louisiana couples who have decided to end their marriages.
For a spouse who suspects his or her spouse is hiding assets, looking at tax returns from the last five years may be a good starting point since most people are honest when it comes to reporting to the IRS. Looking at cancelled checks and checking account statements — and savings accounts — may also provide some insight. In any case, both spouses have the right to ask to see the financial records of the other during the divorce process.
Information regarding real property would be on file with the tax assessor and would be accessible there. Bosses might also help an employee to hide assets by agreeing to give bonuses after an employee’s divorce becomes final. Friends and family members might also help a person to hide assets.
A Louisiana attorney may be able to help a client to check for hidden assets. A lawyer may be able to assist his or her client to get a comprehensive divorce settlement by ferreting out assets that are stowed away. Exposing all assets and debts is the only way to ensure a divorce settlement is on the level.