But what happens when you suspect your spouse is hiding assets to avoid a fair distribution?
Hiding assets is an unethical and illegal activity undertaken by one spouse to prevent them from being included in the marital property division. It can take many forms, such as:
There are usually signs that your spouse may be hiding assets, including:
If you suspect your spouse is hiding assets, acting promptly is essential. Document everything and record all financial transactions that may indicate suspicious activity.
You may also want to hire a forensic accountant. These professionals combine their accounting skills with investigative techniques to analyze financial data and detest irregularities. They will look at their habits and lifestyle to discover if your spouse is hiding assets. They will also review bank statements, tax records and other important documents to identify inconsistencies between reported income and actual spending.
It's crucial that you discuss your suspicions with someone who can guide you through the steps to address the issue. It may be necessary to request the court to intervene. If so, your spouse may be penalized for hiding assets.
]]>But how do pets fit into this picture? Say that you and your partner purchased a pet together shortly after getting married. How will it be handled if you get divorced?
The most important thing to remember is that most pets count as material property, at least, from the standpoint of a divorce case. In other words, your pet is an asset, not part of your family.
This is important because it means that the court isn’t going to create a custody schedule so that you and your ex can share time with the pet. The court would do that for children, but not for pets. You and your ex would have to create this sort of schedule to share ownership yourselves.
What happens if you can’t agree on a schedule? Then the court will just decide which one of you gets to keep the pet. The other person may be given a different asset with a similar value – such as a television or a furniture set that you also bought together.
As you can imagine, that’s not a satisfactory solution to many pet owners, who aren’t thinking about the financial value of the pet that they care about so deeply. If you find yourself in this position, take the time to carefully look into all of your legal options.
]]>The practice of reviewing one’s parenting plan each new year helps to ensure that the plan remains relevant and effective in meeting the evolving needs of both the children and the parents that it affects.
If you co-parent subject to the terms of a parenting plan, you can begin the process of reviewing that plan by reflecting on the past year. Consider what aspects of your current co-parenting arrangements worked well and what didn’t. Think about any significant changes in your children’s lives, such as age, schooling, activities or social developments. This reflection can help identify areas that need (or may simply benefit from) adjustment.
Additionally, you’ll want to evaluate how communication and collaboration between you and your co-parent have evolved over the past year. Effective communication is crucial in co-parenting. Identify any communication gaps or conflicts and consider ways to improve them. Tools like co-parenting apps can facilitate smoother communication, for example.
Review the logistics of your parenting plan. Are the pick-up and drop-off arrangements still practical? Do the holiday schedules need tweaking to better suit your current situations? It’s important that the plan fits realistically with both parents’ schedules and commitments.
Finally, anticipate and plan for any foreseeable changes in the coming year. This could include one parent relocating, changes in employment or children starting a new school. Proactively adjusting the parenting plan for these changes can prevent future conflicts.
Once you’ve agreed on the adjustments, formalize them. Depending on your arrangement, this might require legal modifications or simply updating your written plan. Either way, if you don’t formalize these changes – usually by seeking legal guidance and submitting adjustments to the court – you may be in danger of being held accountable for a failure to honor the terms as they currently stand.
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