Any number of legal issues can arise when an Ohio couple decides to end their marriage. Divorce can be challenging, both emotionally and financially. The latter is especially true if both sides are not playing fair when it comes to disclosing assets and liabilities.
Sometimes, one spouse tries to hide assets from the other. This is a big problem in many divorces, one that often causes contention between spouses. It’s also illegal.
Full disclosure is required when listing assets and liabilities so that a judge overseeing a divorce case can make sure everything is divided fairly. Ohio law operates under equitable distribution guidelines; this means that marital property need not be split 50/50 but must be divided fairly. If a spouse thinks his or her ex is trying to beat the system, it warrants further investigation. In addition to looking in closets and drawers, etc., for hidden money, checking for a paper trail is a good way to uncover hidden assets.
Bank statements, tax returns and other official documentation might show evidence that a spouse is being underhanded when it comes to property division in divorce proceedings. The good news is that the spouse getting the short end of the stick need not try to handle the problem alone. An experienced Ohio family law attorney can help a concerned spouse investigate such matters, even relying on a forensic accountant when necessary. If suspicions are confirmed, an attorney knows how to bring the issue to the court’s immediate attention so that the problem can be rectified.