When a couple from Arkansas, or elsewhere, decides to file for divorce, both spouses have to deal with a number of issues. While it is often said that child custody and alimony are the most important areas that a couple needs to address, it is never wise to ignore something as important as property division. After all, finances play a huge role in shaping the future of an Arkansas separated spouse.
One area in which many spouses face trouble during property division is identifying any hidden assets that the other spouse might have. This can be in the form of stock and bonds, investment accounts property or income. Courts in Arkansas consider hiding assets in a divorce as an offense, and, therefore, if a spouse hides his or her assets, that spouse can expect to face severe consequences.
In order to ensure that marital assets are equitably distributed between both spouses, it is important for spouses to identify any hidden assets the other spouse might possess. At Worsham Law Firm, when a separating spouse approaches one of our lawyers in a similar situation, we use our vast network of professionals, such as private investigators and property and business valuators, to uncover those hidden assets and ascertain their values.
Hidden assets are also a major concern in many high asset divorce cases. With numerous business ventures, multiple properties and a large number of stocks and bonds, the valuation of these hidden assets can run into millions of dollars. In such situations, realtors and forensic accountants can unearth a number of assets that were known to one spouse and unknown to the other.
Although the consequences are often severe, many spouses continue to hide assets from the other spouse. As a result, hiring an attorney who is experienced discovering hidden assets and then presenting them at the discussion table or in court can be very beneficial for divorcing spouses. By consulting with the experienced attorneys at the Worsham Law Firm, a separating spouse can expect fair treatment from the court, as well as his or her former spouse, in a divorce settlement.