Although they say “cash is king”, many people look to invest their money into precious metals and coins for various reasons. Purchasing these precious metals can be considered an investment considering their potential worth to diversify your investment portfolio. On the flip side, sometimes the purchase of precious metals is done by a spouse in order to tie up or conceal community funds.
Examples of such precious metals include:
During the divorce process, it is paramount that you hire an attorney who is skilled at identifying possible concealment of assets through these type of purchases. Hidden assets can be revealed through careful examination of documents such as financial statements, tax returns, both personal and business and credit card statements. Additionally, an attorney experienced in dealing with precious metals can aid you in obtaining a proper valuation of these assets. Depending on the form in which the precious metals are in, such as coins, the value of the same may not be based simply on the current price of gold or silver but may also have additional value depending on the condition, make, mint and year of the coins themselves.
If you find yourself or a loved one are involved with a divorce with such unique assets and need the advice and counsel of an experienced attorney, please call OWENS & PERKINS at480.630.2464 to schedule your free 30 minute consultation.