Divorce is a difficult process and the lives of those involved is often in a state of upheaval. The process only becomes more stressful when dealing with the division of property and financial assets. Unfortunately, divorce proceedings can be very lengthy. When there are significant assets involved it is essential to have an attorney that is experienced in handling divorces involving high assets.
While you may want to believe the best about your soon-to-be-ex-spouse, divorce often brings out the worst in people and may cause them to do something extreme—like hide assets. At Tenn And Tenn, P.A. we know what to look for and understand the difficulty of such a life changing situation. We handle all of the details of your divorce, with the utmost of discretion and care, to ensure an equitable outcome in your case.
Is a Financial Affidavit Required in New Hampshire?
A Financial Affidavit is one of the most important documents that the Court uses in the determination of financial decisions in divorce cases. A Financial Affidavit is a form signed under oath, by both parties, that lists all of the party’s assets, debts, income, and expenses. In the state of New Hampshire, the Financial Affidavit is required. Neither party may waive the filing of the Financial Affidavit. Moreover, each party has a continuous duty to update the Financial Affidavit throughout the entirety of the case. This ensures that the Court has all of the most current financial information.
Areas of Contention in High Asset Divorces
In New Hampshire, typically all property, regardless of whose name holds title, is considered marital property and is subject to division by the court in a divorce proceeding. When it comes to hiding assets during a divorce, it is likely that concealment of assets may take place within one of the several “areas of contention” when it comes to high asset divorces. Common areas of contention in high asset divorces are:
- Retirement accounts, including pensions and 401ks;
- Military and/or Social Security benefits;
- Shares of stock and other stakes in businesses;
- Multi-property home and real estate distributions;
- Spousal support (alimony) and/or child support;
- Collections of antiques, art, coins, jewelry, or firearms;
- Validity of the terms under which a prenuptial agreement was decided upon.”
When determining the value of many of the high contention items listed above, it is often best for your legal team to bring in expert analysts to determine the value of such marital assets. Often, the same experts will be able to spot certain discrepancies that may uncover any potentially hidden assets.
An Experienced New Hampshire Divorce Lawyer Can Protect Your Rights
There are basic procedures in place for filing a divorce in New Hampshire, but the details of each divorce are very unique. New Hampshire requires both parties to file a Financial Affidavit, and to keep it current, which provides a modicum of protection from hidden assets. However, to be truly protected it is best that you work with an attorney with the necessary experience and knowledge to handle your divorce case.