Keep an Eye Out for These Signs of Financial Trickery During Your Divorce
Many couples are able to amicably resolve their divorces, making sure to maintain open and honest communications throughout the dissolution process and taking great care to disclose all financial assets. Unfortunately, this is not always the case, making it especially important for those who believe that a spouse may be attempting to hide assets in anticipation of divorce, to consult with an experienced Fort Lauderdale property division lawyer who can help ensure that any property division settlement is fair and equitable to both parties.
Hiding Assets
There are a variety of ways for a spouse to unfairly skew the outcome of the asset division process for his or her personal benefit. However, one of the most common strategies involves the hiding of assets. This could include everything from art and jewelry to bank accounts and personal possessions. Whether it involves physically taking an object, like a piece of jewelry, or making small withdrawals from a bank account over a period of weeks or months, the results can be devastating for the other spouse, who could receive a much lower portion of the couple’s property.
Giving Away Assets
Spouses attempting to obtain a more advantageous property settlement during divorce don’t always try to hide assets, but could opt instead to manipulate the property division outcome by giving marital assets to someone else as a gift or selling the item for a fraction of its value to someone they know. This type of conduct is unlawful, so if you believe that your spouse is attempting to remove marital property in order to obtain an unfairly advantageous property settlement, please contact our legal team to learn more about protecting your rights.
Wasting Assets
Rather than diminishing the marital estate through gifts or sale or hiding an asset outright, a spouse may attempt to deprive his or her partner of marital assets by wasting the property. Known as dissipation, this could take the form of burning through all of a couple’s liquid capital in a shared account or maxing out shared credit cards. Fortunately, this type of behavior often leaves a money trail, so those who are being wronged by a soon-to-be ex-spouse who is trying to diminish the marital estate, could hold that person accountable in court for the amount spent or the debt they accrued.
Call Today to Schedule a Consultation with an Experienced Property Division Lawyer
If you have evidence that your spouse is hiding assets, intentionally wasting marital property, or is otherwise engaged in questionable financial practices, you should speak with an experienced attorney who can take a closer look at your financial records and determine whether that individual can be held accountable in court for their actions. Please call 954-945-7591 or send us an online message to learn more about how dedicated family law attorney Sandra Bonfiglio, P.A. could help you with your own divorce-related questions and concerns. Initial consultations are offered free of charge, so please don’t hesitate to call or contact us online today.
Resource:
forbes.com/sites/catherineschnaubelt/2019/03/08/finding-hidden-assets-in-a-divorce/#52c24d1d6fd1
https://www.sandrabonfiglio.com/do-i-need-a-property-appraisal-for-my-home/
