Many spouses in Georgia invest in precious metals. These investments can prove to be incredibly profitable, and they also allow individuals to protect themselves against crashing economies and collapsing currencies. People are also attracted to precious metals because they can be easy to conceal. While many might be more concerned about hiding income from the taxman, others invest in precious metals to conceal assets from their spouses. In the event of a divorce, this can prove to be an issue.
If you are dealing with concealed assets in a Georgia divorce, get in touch with an experienced divorce attorney as soon as possible. Whether you are trying to protect your property or you think your spouse is concealing assets, we can help. With our assistance, you can strive for the best possible outcome as you approach property division during a divorce.
Who Do Spouses Purchase Precious Metals?
Spouses might purchase precious metals for a variety of reasons. Firstly, they may simply be trying to make a smart investment. Perhaps they purchased the precious metals before the marriage had even begun. If this is the case, then the spouse does not need to divide these assets with their ex, since the precious metal is considered separate property. If the spouse made the purchase during the marriage, they may have been trying to transfer their wealth into something easily concealable. Perhaps they were preparing for the possibility of a divorce.
However, spouses may also purchase precious metals while the divorce is already well underway. This is a rather desperate tactic, and spouses usually do this in an attempt to “tie up” funds in an estate. The goal is to prevent their ex from accessing the funds, and they may also try to conceal these precious metal assets once purchased. In some cases, spouses even purposely destroy or throw away the precious metals in a spiteful attempt to stop their spouses from accessing funds. These attempts are usually quite obvious, and they typically result in serious legal consequences.
Can Spouses Conceal Assets by Purchasing Precious Metals?
Spouses can theoretically use precious metals to conceal assets. However, their chances of success are much higher if they purchase their precious metals long before the divorce takes place. These assets can also become more difficult to discover if the spouse hides the physical gold or silver outside of the marital home. Note that even if your spouse purchased precious metals many years ago, there should still be a paper trail somewhere along the line. This is why it is so important to work with qualified attorneys who can review bank statements and search for any strange transactions, such as cash withdrawals. A forensic accountant can also help in this situation.
Enlist the Help of a Qualified Attorney Today
If you have been searching Georgia for a qualified, experienced divorce attorney, look no further than Lankford & Moore Law. We have helped numerous spouses in Georgia with the property division process. While precious metals and other assets can be difficult to deal with during a divorce, you can approach this situation with confidence once you have teamed up with Lankford & Moore. Book your consultation today.