Divorce is invariably difficult. Some divorces, however, are more complicated than others. The process can be stressful and filled with many decisions that have long-term effects. When complex divorce cases arise, you should seek an experienced divorce lawyer’s insight as soon as you can.
Issues That Make a Divorce Complex
Certain issues and situations can complicate a divorce. When they arise, they often require review and revision until both parties can reach a resolution. If the problems are not resolved, the divorce itself may take longer and cause additional stress for both parties. Some other areas where complex divorce cases occur are:
- Child custody: This can be a hotly contested issue in a divorce. Couples should face custody concerns before a dispute arises, if possible.
- Disagreements over alimony: A dispute over alimony happens frequently. Couples need to address this issue early on with the help of an attorney.
- Business assets and tax issues: Both entities can be convoluted and take longer to straighten out.
- Contested divorce: In this situation, either party may contest various elements of the divorce. This includes child support, custody, and spousal support as well as property division and the divorce itself.
- Prenuptial agreements: While prenuptial agreements are drawn up to protect the spouses, they can become problematic at the end of a marriage. It is crucial to ensure that the prenuptial agreement is followed.
- Decree modifications: There are times after a divorce is final that the terms may need to be modified.
One factor that is sure to complicate a divorce is significant marital assets. Not only does the couple need to deal with many decisions that will require an extended timeline, but the divorce can also become contentious. The equitable distribution of property means that each party should receive the assets to which they are entitled.
Hidden Assets in a Complex Divorce
Sometimes, the parties to a divorce do not disclose their assets, properties, and various financial accounts. One spouse can do this by transferring the assets to an account unknown to the other spouse or to another individual. Another way to illegally hide assets is to undervalue the asset or property.
Specifics of Hidden Assets
Some specific examples of hidden assets include:
- Cash, including traveler’s checks, can be used to hide assets.
- Antiques are a way to hide assets since they are difficult to appraise properly.
- Fabricating debt that does not exist can be used to hide assets during a divorce. This is often done by transferring assets to repay a phony debt and having the money returned after the divorce is final.
- Income statements: Some individuals will attempt to falsify income statements, an illegal process.
- Retirement plans: On occasion, one spouse may hide a retirement account from the other spouse or fail to tell them they are eligible to be included.
Call Us Today to Speak to an Attorney About Complex Divorce Cases
While divorce is not easy, the addition of complex issues makes it more challenging. That is why having a seasoned complex divorce attorney at your side is essential. Contact us today to protect your rights and your future.