When deciding on how to divide marital property, you are required to make an honest disclosure of your interests and assets. The keyword is honest ”“ and not every spouse is going to be honest. Especially in situations where one spouse is less involved in the couple’s finances, there is a risk that one spouse will try to hide assets in order to prevent them from being divided under Colorado law.
How to Ensure Everything is Divided Fairly
The best approach to ensure you receive your fair share of marital property is a preventative strategy. You should obtain as many documents related to your spouse’s assets as you can and make copies. Keep them somewhere safe, and do this before you even initiate a divorce. Tax returns are useful in this respect, as they could provide an impartial view of a person’s assets.
Even if you believe your spouse is being honest, your attorney will submit interrogatories ”“ written questions ”“ to your spouse that require answers under oath. The threat of punishment for lying under oath could deter your spouse from hiding assets. Then again, it may not, in which case you can also have your spouse give an oral deposition, testifying on record, under oath about his or her assets. This gives your attorney a chance to ask follow-up questions if something seems off.
You can also draft a Separation Agreement with your spouse stating that all assets have been honestly disclosed, and that if later it becomes apparent that assets were hidden, your case can be reopened and marital assets redistributed.
Trust Divorce Matters with Your Denver Family Law Needs
If you enlist the services of a divorce attorney, he or she can help you in a variety of ways, like subpoenaing your spouse’s employment records, asset records and bank accounts. Based on these considerations, it is always wise to discuss your marital property division with an attorney.