Justin Raber Attorney at Law

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Watch for questionable financial actvity in a divorce

Ending a marriage in West Virginia or anywhere around the nation can be a time of uncertainty. Difficult questions are being asked, particularly where finances are concerned. Unfortunately, some people going through a divorce may not be totally forthcoming in the answers given. Financial advisors recommend that those going through a divorce pay close attention to detail where money is involved.

A fraud examiner recently participated in a panel discussion at a conference for financial planners. The speaker shared her observations that many clients tried to hide things through the years. She stressed the importance of disclosing everything and being completely transparent in the discovery process of a divorce.

Discrepancies in someone's reporting could be indicative of secret behavior in a marriage. A financial trail could reveal a person's marital infidelity, overspending, gambling or drug problems. Uncovering something of this nature can create more tension in an already stressful situation.

To fully understand a couple's finances, the experts suggest to look at every statement. It would be wise to go beyond checking and savings account statements, and scrutinize credit card statements and insurance policies. A financial expert, such as a certified public accountant or tax professional, would know how to recognize any illicit behavior.

Anyone going through a divorce should seek the advice of a West Virginia divorce attorney, whether or not someone suspects an ex-spouse of questionable financial behavior. An experienced lawyer will protect a client's interests and help bring understanding to a complex process. A knowledgeable attorney will work to ensure that a client's current and future financial situation remains secure in the divorce proceedings.

Source: financial-planning.com, "Divorce: The 'dark side' of financial planning", Maddy Perkins, Oct. 3, 2017

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