Truth and honesty are not always the norm when it comes to ending a marriage in Connecticut. As emotions run high and each individual is fixated on making sure that he or she receives specific property and assets, one may not always divulge all the pertinent details. At times, one or both individuals are unaware of some assets that should be considered in the divorce.
In many households, one of the spouses is generally responsible for the finances. This spouse often is the one who balances the checkbook, makes sure that the bills are paid and takes care of investments. This arrangement appears to be ideal when the couple is in love and enjoying life together. However, if problems arise in the marriage, this arrangement is also an excellent opportunity for one to begin hiding assets.
It is possible that the other spouse is only aware of the joint checking account, savings account and a retirement account for each of them. The bills are being paid, and money is available for the everyday needs of the family. Yet, when one spouse is unaware of the day-to-day finances, it becomes easy for the other spouse to open other individual accounts and begin moving financial assets into these accounts.
One would like to believe that his or her spouse will be honest and that a divorce will proceed smoothly through the Connecticut court system. In reality, this is not always the case. Many times, people fail to be completely truthful and honest. For this reason, it may be wise to have an experienced attorney and perhaps even an accountant review the couple’s financial documents prior to an agreement being reached.
Source: thefiscaltimes.com, “6 Money Mistakes to Avoid When You’re Getting a Divorce”, Kelli B. Grant, Aug. 26, 2016