Mississippi Divorce Attorney Talks about Hidden Assets in Divorce Cases

Did you know that approximately thirty percent of people who share finances with a spouse or significant other have not been entirely truthful about their finances? Sometimes, financial deception within a household becomes such a big problem that it is discovered by the innocent spouse or partner. In fact, sometimes it is such a major issue that it leads to divorce. In some households, however, financial deception is so well concealed that it goes unnoticed for quite some time.

Most couples disagree about money from time to time, but financial deception is different, because unlike other forms of financial disagreements, such as deciding on a household budget or arguing over whether a planned purchase is a good idea or not, it goes on in secret until it is discovered. There are a variety of types of financial deception, from concealing debts and purchases to maintaining bank accounts that are kept secret from a spouse.

Sometimes, financial deception can become an issue in a divorce case even if it had not been an ongoing problem for the couple prior to the initiation of divorce proceedings. Both financial deception during a marriage and financial deception that begins during divorce proceedings can cause major trouble for the person who is doing the deceiving. Mississippi is an equitable distribution state, which means that the property distribution in every divorce case must be fair. In equitable distribution states, courts are permitted to order and parties are permitted to agree to distributions that are not exactly a fifty/fifty split of assets for a variety of reasons, including distributions that are weighted in favor of one spouse because of the wrongdoing of the other. Because of this, you can understand how financial deception during the marriage or during the divorce could result in a situation where the innocent spouse receives a greater share of marital assets in the property distribution than the spouse who has been deceptive.

During divorce proceedings, spouses are expected to exchange financial statements and make a full disclosure of their finances. Spouses who have been deceptive or who are being deceptive during divorce may try to hide information during the financial disclosure process. Fortunately, divorce attorneys can often track down hidden assets and bring the discrepancies to light. From checking tax returns against financial disclosure statements to asking for a wide variety of financial records during the discovery process and looking through them to see if there are unfamiliar account numbers, transfers of large sums of money, or even safe deposit boxes that the other spouse was unaware of, there are plenty of ways that your attorney can check for hidden assets.

Even if there were things that happened in your marriage that were not fair, your Mississippi Divorce Attorney can help you to pursue a fair result in your divorce case, either by settlement or at trial.  Jackson, Mississippi Divorce Attorney Matthew S. Poole is here to help you with your Mississippi divorce. Please call us today, at (601) 573-7429, to arrange a free, initial consultation.

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Mississippi Divorce Attorney Talks about Hidden Assets in Divorce Cases
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Mississippi Divorce Attorney discuss hidden assets in divorce cases.

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