Are You Concerned About a Hidden Bank Account?
The divorce process requires that couples contend with a number of important issues, with property and debt division often making their way to the top of the list. While many spouses are honest with each other regarding their assets, some fail to fully disclose what they own, which can significantly affect the fairness of any eventual settlement awards. Hiding bank accounts is an especially common method used by unscrupulous spouses, as it is typically easier to get away with than other types of fraud. For help digging up your own spouse’s hidden accounts or other undisclosed assets, please reach out to an experienced Florida property division lawyer who can help protect your interests.
How to Find Hidden Bank Accounts
There are a few different ways to uncover hidden bank accounts during divorce, including:
- Obtaining access to the other party’s list of disclosed bank accounts and looking for evidence of transfers to other accounts or missing monthly statements;
- Deposing the other party, which entails asking certain questions under oath;
- Checking cryptocurrency accounts, which can be used to hold and disguise undisclosed assets;
- Making a formal request for more financial information from the other party, including bank statements and tax returns;
- Retaining a copy of the party’s income tax return, which will reveal evidence of any foreign accounts; and
- Asking the court to authorize an asset search and credit report.
Although taking these steps can help uncover hidden bank accounts, a spouse’s clever maneuvering could still necessitate the assistance of a specialist. Forensic accountants, for instance, are experts in discovering potential fraud and the unlawful concealment of assets, which they achieve primarily by compiling and analyzing a couple’s financial data. These individuals are often able to find traces of income or assets, including bank accounts, that escape the notice of everyone else, so if your financial situation is particularly complex and you believe that a spouse is attempting to hide the existence of a bank account, you may want to consider asking a forensic accountant to join your divorce legal team.
The Importance of Uncovering Hidden Assets
Failing to discover all of a spouse’s assets upon divorce can have serious financial repercussions down the road for the wronged party, who could end up the recipient of an unfair settlement award. Furthermore, a lack of access to certain assets can make the transition to post-divorce life much more difficult, especially when it comes to paying bills or supporting a child. For help ensuring that your own spouse isn’t hiding any assets from you to avoid equitable distribution upon divorce, please reach out to our office today.
Is Your Spouse Hiding Assets?
If you suspect that a spouse is hiding a bank account in order to avoid sharing its contents with you upon divorce, you need an experienced attorney on your side who can help protect your interests. Please call 954-945-7591 to speak with dedicated Fort Lauderdale property division attorney Sandra Bonfiglio, P.A. to learn more about how we can help.
Resource:
forbes.com/sites/jefflanders/2014/09/04/why-a-forensic-accountant-belongs-on-your-divorce-team/#2a8602e7718a
https://www.sandrabonfiglio.com/awarding-different-forms-of-alimony-in-a-single-divorce-proceeding/
