Georgia Divorce and Family Law Attorney
In many cases, when a marriage turns sour and divorce is on the horizon, one of the spouses decides to start hiding assets. That spouse may believe that if assets are transferred, the assets will not have to be divided in the divorce. Some individuals sell assets to family members or friends for considerably less than fair market value as a way to transfer assets out of their name and have an agreement to take those assets back after the divorce is final. In other cases, the spouse just simply signs away ownership to their family or friends without any monies exchanging hands.
It’s not that easy, however, to hide property from a divorce court. All assets that were purchased or earned during marriage are considered marital property. All marital property is divided as part of the divorce. If any marital assets are sold or transferred before the divorce is filed, the values of those assets may still be included in what has to be divided.
It’s important to hire an attorney if your spouse has already started hiding assets. Even though the divorce has yet to be filed and you believe there is hope of reconcilation, you need to have an advocate protecting your interests during this period. If you delay in hiring an attorney until after the divorce process has been ongoing for a while, it is more difficult for the attorney to undo the damage that has been done.
If you believe that you may be facing a divorce in the metro Atlanta area and your spouse is starting to hide or sell assets, call Atlanta Divorce Attorney Shalamar Parham at 678-439-1482. She can help fight for your legal rights during the divorce process, including the rights to your marital property. Call today to schedule your consultation.