When married couples in Pennsylvania begin to have relationship problems, divorce ultimately becomes a consideration. In some cases, soon-to-be ex-spouses take preemptive steps to hide assets so that they will not have to share them with their former partners at the time of divorce.
In many cases, however, this type of asset manipulation could be evident to an alert spouse, family law attorney or financial professional. One notable example of such a case was an accountant who made extremely high estimated payments on tax liabilities with the intent of claiming a refund after the divorce was over.
However, his wife spotted the irregularities in the way their taxes were filed. She was able to take action and proceed to claim her fair share of the marital estate.
Unfortunately, some spouses are not so aware of financial irregularities. This can make it difficult for these spouses to leave a marriage with the assets they deserve so that they can rebuild their lives. If a spouse senses that there are troubles in their marriage, it may be wise to begin tracking all financial statements and accounts, including tax returns. Irregularities may be a red flag indicating that the other spouse is concealing assets.
An individual who is considering divorce might benefit from speaking with an experienced family law attorney. The lawyer could review the client’s financial circumstances and provide an appropriate legal strategy for ensuring a fair division of property. Legal counsel may even recommend hiring a forensic accountant to provide additional scrutiny of the couple’s finances. Other considerations might include ongoing spousal support, parenting plans and child support.