Everyone should know the consequences of divorce prior to seeking one. Most people think that they know the basics: divorce legally ends the marriage, it divides the marital property, and it allocates child custody between the parents. But not everyone knows the full consequences of their impending divorce in terms of the financials, and this is critical because you could be leaving assets on the table.
It is astounding how many times the attorneys at Kirker Davis come across cases in which one spouse has hidden assets from the other spouse, or the other spouse is at least unaware of the total assets of the marriage that they are entitled to in a divorce. Oftentimes, the spouse hiding assets offers to settle the divorce quickly and without fuss through a settlement agreement, but only lists a fraction of the total assets. If the unaware spouse signs this settlement, she has left money on the table.
When people think of their assets, they likely think first to their bank accounts, their cars, and maybe their home. All of these are assets divisible during a divorce, and each may be worth quite a lot of money. But there are potentially many other possible assets out there that your spouse may be hiding from you: retirement accounts, brokerage accounts, and stock options, just to name a few. If you do not normally handle the finances, you are likely unaware of the total assets you are entitled to in a divorce.
Attorneys use a court process called “discovery” in order to dig into your soon-to-be ex’s financials—even those that have been hidden from you. You need experienced divorce litigation attorneys on your side to make sure that everything has been accounted for prior to divorce.
If you are contemplating divorce, or if you are concerned your spouse may be contemplating divorce, you need a team of highly experienced divorce litigation attorneys who will zealously fight for your rights. Contact Kirke Davis LLP to schedule a meeting with a divorce litigation attorney today.