A divorce can change from bad to the worse fairly quickly, and the divorcing couples can be tempted to hide assets from the other spouse. To reach a fair settlement, it is crucial for you to analyze your and your spouse's assets and tax documents, insurance policies, retirement accounts, and know the maturity of the different accounts and when they can be accessed.

An experienced attorney will tell you that going through a divorce will surely affect your current lifestyle, and gathering all the information you need for your divorce will require intensive discovery, hours of analysis and witness depositions, and an open mind. Our Frisco Family divorce attorneys are trained to think in the manner of a divorcing party, and will search through all legal options to help make sure your spouse isn't hiding any assets that should be equally divided in your divorce settlement.

Some of the most common ways that spouses attempt to hide assets in a divorce are as follows:

• Expense Accounts: misusing expense accounts given through an employer is typical of divorcing persons
• Brokerage Statements: selling securities and putting the money elsewhere can be caught by analyzing brokerage statements
• Bank accounts in the children's names: as interest income is not reported while filing taxes, assets can be hidden in such accounts
• Checking and savings accounts: cancelled checks, cash, and unusual deposits and withdrawals
• Corporate returns: by creating a 'fake' person on payroll, business owners are able to pay them, and reclaim the money in full from them after the divorce.

A forensic tax professional can be of great help in such situations, and our attorneys have worked with numerous such professionals to reclaim money for our clients.

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With tremendous exposure to such business practices, our attorneys will be able to well serve your financial interests. If you are considering a divorce, contact the Frisco divorce lawyers of Alexander & Associates for an initial consultation.

James Witherspoon

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