In many divorce cases, it is easy to determine income and identify assets and liabilities. Income includes W-2 wages of the spouses and a few small items such as interest income and dividends. Assets and liabilities are obvious, as they often include houses, automobiles, and a bank account or two. In other divorce cases, it is much more complicated. Divorces involving self-employed individuals, rental properties, income-producing assets, or high-level executives with special perks and benefits are more difficult to evaluate. These are the cases in which more documentation must be evaluated, including the laundry list of documents in Appendix B and possibly other documents depending on the unique factors in the family law case.
Finding hidden sources of income is important as it relates to spousal support. However, the discovery of income streams can also influence the division of assets. If one spouse has a larger income stream than previously disclosed, that spouse may have less need to receive assets divided during divorce. Clearly, the discovery of hidden income can significantly impact the financial outcome of a divorce or child support action.