The process of dividing marital property is one of the most complex and emotionally charged aspects of a divorce. Property division can be especially difficult in a Florida divorce when one spouse attempts to deceive the other by hiding assets. This can lead to settlements and final orders that are unfair and unsustainable for one party.
When a person suspects that his or her spouse is hiding assets in a divorce, it is beneficial to take immediate action to address these concerns. Both sides are supposed to provide a financial disclosure in a divorce. However, it may be necessary to take legal action to demand all of the information on every marital asset, including properties, retirement accounts, bank accounts and more.
There are many warning signs that a person may be trying to hide assets in his or her divorce. Besides a financial disclosure that seems incomplete or incorrect, the spouse may claim that he or she lost certain assets. Other signs that financial deception may be taking place includes the spouse denying that the asset exists. Common ways to hide assets includes temporarily transferring assets to a third party or creating false debt.
Divorce is a financially complex process, especially when one party is being dishonest in order to gain an advantage during property division. It is in the interests of a Florida reader facing divorce to learn about the signs of hidden assets and what he or she can do to protect long-term financial assets. It may help to seek the assistance of an experienced family law attorney before moving forward.