What If Your Spouse Hides Assets In A Fort Lauderdale Divorce?

All marital assets are subject to the rules of equitable division in a Fort Lauderdale divorce. In other words, you are entitled to a fair share of everything earned, acquired, or accumulated during your marriage. In disclosing income and holdings, honesty and full financial transparency are not just expected; it is required by law.

Unfortunately, your spouse may try to hide assets in hopes of walking away with more than they are otherwise entitled to in a settlement. If you suspect this, get legal help right away. Our Fort Lauderdale divorce attorney explains the signs of hidden assets in divorce, penalties your spouse could face, and how to protect your rights in court.

Signs of Hidden Assets In A Fort Lauderdale Divorce

When getting a divorce in Broward County, the principle of equitable distribution applies. To divide everything fairly and resolve other issues, such as alimony and child support, you need a full disclosure of all marital assets.

Hiding assets is a violation of the Florida Statutes and could put your financial future at risk. Warning signs of hidden assets include:

• Unexplained withdrawals or secretive behavior about bank accounts;
• New financial accounts or credit cards opened in one spouse’s name only;
• Undervalued assets, such as property, jewelry, or business interests;
• Unusual gifts or “loans” to friends or family members;
• Cash-heavy business transactions with little paper trail.

Don’t dismiss your gut feeling. If something does not seem right to you, it is definitely worth investigating.

What You Can Do If You Are Getting A Divorce In Fort Lauderdale And Suspect Hidden Assets

Florida law requires full disclosure of all marital assets. If you are filing for a divorce through the Broward County Family Court and suspect your spouse is hiding assets, the following are steps you can take to protect your rights:

• Make a list of all assets: Note homes, cars, collectibles, antiques, personal items, and other property, as well as bank accounts, investments, shares in businesses, life insurance policies, and retirement benefits.
• Get copies of all relevant documents: This includes statements from bank accounts, tax records, and property titles.
• Get professional legal help: Our Fort Lauderdale divorce attorney works with forensic accountants to uncover hidden assets and represents you when confronting your spouse in court.
• Ask the court for sanctions: If your spouse is found to have offshore accounts, undeclared earnings, property put in other people’s names, or otherwise attempted to hide assets, they could be penalized and lose their share of the hidden property.

Contact Our Experienced Fort Lauderdale Divorce Attorney To Prevent Hidden Assets

Hiding assets when filing for a divorce in Fort Lauderdale is a serious offense. The court does not take kindly to this behavior, and neither do we. If you suspect this is an issue, contact the Law Office of Sandra Bonfiglio. The sooner you get legal help, the better your chances of getting the total amount you are entitled to. Reach out and request a consultation today with our experienced Fort Lauderdale divorce attorney.

Source:

leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.075.html