With all of the emotions and issues involved in a divorce, things have the potential to turn contentious. For example, a person could encounter uncooperativeness from their estranged spouse. One area in which a spouse could become uncooperative is in sharing financial information that only they have access to.
Compiling all relevant information related to marital finances is a critical step in preparing for a divorce. The amount of relevant information to collect can be considerable. This can particularly be the case in high-asset divorces. Missing key pieces of information could put a person at a big disadvantage during divorce proceedings.
So, a person may be incredibly concerned when uncooperativeness from an estranged spouse creates a roadblock to getting the financial information they need in a divorce.
Collecting financial information early, before an upcoming divorce has a chance to grow more contentious, is among the things a person could do to try to avoid such a situation. This underscores how important advanced preparation can be when divorcing.
When a divorcing person does end up experiencing a lack of cooperation from their spouse regarding financial information, their response to it can have major impacts on their overall situation.
Resistance from an estranged spouse to sharing financial information could take a range of forms. It could involve fairly basic uncooperativeness, such as a dragging of feet on providing certain information. Or it could involve more devious conduct, such as hiding information or giving false information to try to conceal assets. Where on this spectrum of uncooperativeness a spouse’s conduct falls can impact what the best response to it would be.
So, legal guidance on their options for response is among the things a person may wish to seek out when their spouse has put up resistance regarding sharing financial information in a divorce.
Source: NerdWallet, “7 Ways to Ready Your Finances for Divorce,” Elizabeth Renter, May 30, 2017