Divorce is a complex process. From emotions to assets, nothing about separating two intertwined lives is simple. However, divorce presents unique challenges for high-asset couples with large accounts and significant property to divide.
In a Georgia divorce, marital property is split fair and equitably between the spouses. High-asset divorce proceedings are often long and complicated, due to the amount of wealth involved. The court must identify and value all assets before you can reach a settlement.
What kinds of assets might complicate proceedings?
- Business interest or ownership
- Stock options
- Deferred compensation
- Trust-fund money
- Real estate partnerships
- Retirement accounts
What other complications can arise in the asset division process?
Despite how it might feel to investigate your spouse, it’s vital for you and your lawyer to do your due diligence on their financials. Hiding assets is an unfortunate practice in divorce proceedings, and you will want to ensure that this is not taking place.
While not guaranteed to discover what your spouse could be hiding, these two steps may help you find potential hidden financial assets:
First, consider going through old tax returns to see if there is anything present on those that is conspicuously absent from the asset report submitted to the court.
Second, check the “private” hiding spots for financial evidence of unreported assets—these spots might include a home safe, a safety deposit box or the locked desk drawer in your study.
High-asset divorces can be incredibly stressful, but you can navigate this process with dignity and determination. Gathering information to better understand divorce law is an excellent first step.