Divorce proceedings can be a stressful and emotional time for all parties involved. One of the many issues that may arise during a divorce is the division of assets. Asset searches can be an important tool in this process, but they must be conducted properly to avoid any legal issues. In this blog, we'll discuss what you need to know about asset searches in divorce proceedings.
What is an Asset Search?
An asset
search is an investigation that is conducted to determine the assets and
liabilities of an individual or a company. In the context of divorce
proceedings, an asset search may be conducted to determine the true financial
picture of one or both spouses. This can include assets such as bank accounts,
real estate, investments, and personal property.
Why Conduct an Asset Search in Divorce
Proceedings?
In many
divorce cases, one spouse may attempt to hide assets from the other to keep them from being divided in the divorce settlement. An asset
search can help uncover these hidden assets and ensure that both parties
receive a fair division of marital property.
Additionally,
an asset search can be useful in determining whether a spouse is hiding income
or assets to avoid paying alimony or child support. If a spouse is
found to be hiding income or assets, they may be subject to penalties and
fines.
How is an Asset Search Conducted?
Asset
searches can be conducted in a variety of ways, but they typically involve a
combination of public record searches and private investigations. Public record
searches may include examinations of property records, court records, and
bankruptcy filings. The private investigation may include surveillance, interviews
with friends and family members, and searches of financial records.
It's
important to note that legal limits exist to what can be done during an
asset search. For example, it is illegal to obtain access to someone's bank
account without their consent. An asset search must be conducted within the
confines of the law to avoid any legal issues.
What are the Risks of Conducting an
Asset Search?
While
asset searches can be useful in uncovering hidden assets, there are also risks
involved. For example, if an asset search is conducted improperly, it could
result in legal issues for the person conducting the search. Additionally, if a
spouse feels their privacy violated during an asset search, it
could lead to further conflict and legal action.
It's
important to work with a qualified professional when conducting an asset
search. A private investigator or financial professional with experience in
divorce proceedings can help ensure that the search is conducted legally and
within ethical boundaries.
What Should You Do if You Suspect Your
Spouse Is Hiding Assets?
If you
suspect that your spouse is hiding assets during divorce proceedings, it's
important to speak with a qualified attorney. Your attorney can help you
determine whether an asset search is necessary and can guide you through the
process.
It's
important to approach the situation calmly and rationally. Accusing your spouse
of hiding assets without evidence can lead to further conflict and legal
issues. Working with a professional can help ensure that the process is
conducted fairly and legally.
Conclusion
Asset
searches can be an important tool in divorce proceedings, but they must be
conducted properly to avoid any legal issues. If you suspect that your spouse
is hiding assets, it's important to work with a qualified & professional private
investigator to determine whether an asset search is necessary and to ensure
that it is conducted legally and ethically. With the right approach, an asset
search can help ensure that both parties receive a fair division of marital
property.
Guardian
Investigations is a professional investigative agency that specializes in conducting asset searches for clients
involved in divorce proceedings. With years of experience in the field,
Guardian Investigations uses a combination of public record searches and
private investigation to uncover hidden assets and ensure that both parties
receive a fair division of marital property. They are dedicated to conducting
asset searches legally and ethically and work closely with clients to provide
personalized and confidential services. Call them now at 631-351-6473.