When the process of divorce or separation begins, financial disclosure is usually one of the first steps to take. In most divorces it's often the most important issue because it involves dividing assets and debts acquired through the course of the marriage. When it comes to teh division of assets and debts in the divorce process, education is the key. It's important that each spouse educate themselves on the differences ebtween community and separate property, and how to avoid a court proceeding. Oftentimes it may feel that you and your spouse would like to have the same outcome, their idea of "fair" may not be the same as yours.
Hidden Assets
Divorce requires that each individual provide a sworn financial statement along with supportin documentation. You must be aware, unfortunately, some spouses hide key information or give fake information which can have a big impact on the division of property, equalization and support issues. It IS illegal do this and if caught in court, fines are incurred or the other spouse may be awarded the total amount of the assets.
What to Do if You Think Your Spouse is Hiding Assets
No matter if its a short or a long term marriage, many have the same issues when a decision to divorce is made and assets are involved. If you find out that your spouse is not forthcoming with financial disclsoures, look out for a change in financial actions, as a few examples:
Is there more than usual cash withdrawals or transfers to other financial institutions?
Do you see financial statements from companies you don’t do business with?
Is your spouse setting up trusts, gifting or lending money to friends and family?
There are many more instances that you may feel something is off during "financial" discussions or in general day to day spending activities, but you may surprised to learn that your spouse is distributing funds to show lower assets with the hope of showing less income (assets) and avoid paying less support.
Avoid Conflict With Mediation
No matter what position you and your spouse are in, the ultimate goal of mediation is to have a positive outcome for both spouses and families. At A Fair Way Mediation, we truly believe most people would rather have a stress free and problem free divorce that will satisfy both spouses rather than contentious divorce that will ultimately leave both parties unhappy.
A properly trained and experience mediator will provide a calm environment that will allow you both to speak and provide your thoughts and needs. One of the best parts about mediation is that we don't take sides, we understand that you both are ready to move on with your lives and work hard to help lead the discussion as a netural 3rd party to navigate the various complex issues that may be involved with your divorce.
About A Fair Way Mediation
For over 30 years, A Fair Way Mediation has been helping couples with relationship issues to negotiate a positive resolution to their issues. Our mediation experience includes success with domestic partnerships, traditional marriages, same sex marriages, military marriages, and alternative relationships. Our mediators are skilled in the technologies of virtual mediation and will guide you carefully through the process. Mediation works equally well for non-criminal disputes such as landlord tenant, family, and HOA issues. We have successfully mediated issues throughout Palm Springs, Riverside County and San Diego.
Our offerings include Zoom, Skype, video chat and in-person sessions. Mediation is a voluntary process and both parties in the relationship must be willing to try mediation. Our free 30-minute consultation with both parties involved, will help you decide if you want to try mediation. For a free evaluation, call us at 760-227-5090 or 619-702-9174, or complete an online request at www.afairway.com. Offices in Coachella Valley and San Diego.
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