Uncovering Hidden Assets In Your Fort Lauderdale Divorce
If you are getting divorced in Fort Lauderdale and suspect your former spouse of hiding assets, you are not alone. Unfortunately, it is common practice for one partner to temporarily transfer property, store funds in other accounts, or otherwise hide assets to avoid having them divided in divorce proceedings.
Whether unreported income, secret bank accounts, or undervalued investments, failing to disclose assets can prevent you from getting the total amount you are entitled to in a divorce settlement. Our Fort Lauderdale divorce lawyer explains common signs of hidden assets and how to get your fair share.
Getting A Divorce In Fort Lauderdale? Common Signs Your Spouse May Be Hiding Assets
When getting a Fort Lauderdale divorce, each party is required to provide full financial disclosures. Under the Florida Statutes, all marital property and assets are divided equitably between the spouses based on their income, contributions to the marriage, and other factors.
Some spouses may attempt to hide or conceal certain assets to avoid equitable division. The following are red flags to be alert for:
- Unusual bank activity, such as frequent cash withdrawals, unexplained transfers, or secret accounts, may suggest hidden funds;
- Sudden drop in income and claims from your spouse that they earning less without a clear explanation may mean they are deferring income or manipulating records;
- Overpayments or phantom debts, in which your spouse ‘pays’ fake debts to friends or relatives to recover the money later;
- Undervaluing antiques, collectibles, real estate, business interests, or other assets to minimize equitable distribution.
In Florida, equitable distribution laws require a fair, but not necessarily equal, division of marital assets. If your spouse attempts to hide assets, it could work against them in divorce proceedings.
How to Find and Recover Hidden Assets In Fort Lauderdale Divorce Proceedings
Do you suspect your spouse may be hiding assets to avoid equitable division? Fortunately, there are several steps our Fort Lauderdale divorce lawyer can take to find and recover them:
- Formal discovery tools: We use interrogatories, subpoenas, and depositions to force your spouse to disclose financial information under oath.
- Forensic accountants: We work with experts who can trace bank accounts, tax returns, and asset transfers to reveal hidden assets.
- Digital footprint reviews: We review email trails, shared apps, and transaction records, which often offer clues to undisclosed holdings.
- Motion for contempt: If your spouse intentionally hides assets, they can face significant penalties through the courts.
The Broward County Family Court takes hiding assets seriously. Your spouse’s behavior could entitle you to a greater settlement, while they face fines, court sanctions, and other penalties.
Contact Our Experienced Fort Lauderdale Divorce Lawyer for Help with Hidden Assets
At Prieto Law, we provide the caring support and skilled legal representation you need to get what you are entitled to in Broward County divorce proceedings. If you suspect your former spouse of hiding assets, don’t wait to take action. To protect your rights in a settlement and future financial security, contact our office right away. Request a consultation today with our experienced Fort Lauderdale divorce lawyer.
Sources:
leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.075.html
browardclerk.org/Divisions/Family
