When a couple makes the decision to get a divorce, there are a number of steps that need to be taken before the divorce can become finalized. One of the steps in a divorce is known as discovery. This process is where all of the important information is laid out so the necessary decisions can be made. These may include equitable distribution, child support, spousal support, and child custody agreements. During the discovery process, each spouse will have to come forward with a statement of net worth that will be used in determining the previously stated decisions. The statement of net worth details all of that person’s income, expenses, debts, pensions, and any other assets that the spouse may have. It is important that each spouse is completely truthful in the discovery process but this is unfortunately not always the case.
Obtaining an accurate statement of net worth is crucial to the discovery process. If you suspect that your spouse has submitted an inaccurate statement of net worth because they are a business owner or another similar situation it may make it difficult to know their true income. In this situation, you may be required to hire a forensic accountant who can conduct an investigation into your spouse’s finances. If they claim they only make a certain amount of money but then say that they have very high expenses, this can raise questions into the validity of their income statement. If you learn that your spouse has a higher income than they had initially reported, you may be able to benefit from this.
If you have any further questions about the discovery process or any other step in obtaining a divorce, contact an experienced divorce attorney that can provide you with assistance.
If you need quality and compassionate legal services from an experienced collaborative divorce lawyer or the guidance from a seasoned mediator, contact Leslye M. Schlesinger today.