Investigation Sometimes Necessary to Determine Assets in Divorce
In some divorces, there’s a lot on the line. If you and your partner were married for a long time and have large amounts of shared, marital assets and property, you may face a complex division of assets process.
One issue you may need to address is if your ex should attempt to hide certain assets or income to lessen the impact of property division in a divorce. Fortunately, there are numerous tools available to you and your attorney to find this information — the process is called discovery. During discovery, you obtain a clear and more accurate picture of your former partner’s financial situation, which should result in a more fair and equitable division of property.
Discovery is often necessary for the “out-spouse”— a husband or wife who had little or no knowledge of the couple’s financial circumstances because the other was responsible for tracking finances. If you were the out-spouse, the first step you should take is to request all pertinent financial information from your ex. In many cases, he or she will be honest about assets and income, but in other situations, you and your attorney may need to conduct a more thorough investigation.
As part of the divorce discovery process, attorneys may demand to see certain documents, including tax returns, bank account balances, financial statements and loan applications. They may also ask the opposing party in a divorce to provide written answers to questions, and request to inspect property such as safety deposit boxes or jewelry collections and other valuables. The court may also require testimony under oath, in which both spouses will need to answer each other’s lawyer’s questions truthfully.
If you’re facing divorce in Connecticut and you and your spouse have substantial assets, it’s important to protect your rights and best interests. Secure representation from a lawyer with significant experience handling high-asset and high-income divorces in order to achieve the best possible outcome.