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Recognizing when your spouse is hiding assets during divorce

On Behalf of | Jan 24, 2019 | Uncategorized

Couples going through a divorce may have concerns about how they will come out financially when all is said and done. After all, divorce can mean a severe cut in income, and it is important for property division to be fair to avoid one spouse struggling for months or years after the divorce.

Unfortunately, not every spouse is willing to play fair when it comes to disclosing assets and income during a divorce. You may have suspicions that your husband or wife is hiding assets from you. Do not dismiss those concerns until you have investigated the possibility. Once your divorce order or settlement is official, it may be too late to claim what you deserve.

Do you see the signs?

It must be more than a sneaking suspicion that you present to your Florida attorney if you worry that your spouse is hiding assets. Some signs that your spouse may be stashing away money to keep you from obtaining it during property division include the following and many others:

  • You find unusual withdrawals from your joint account, or your spouse’s income deposits are less than in the past.
  • Statements from unfamiliar banks or credit cards arrive in the mail in your spouse’s name only.
  • You notice your bank account has regular payments to a post office for a PO box or for a safety deposit box that you did not open.
  • You find ATM receipts that do not match your joint account or bank.
  • Your spouse has more than one cell phone.
  • Your spouse is using his or her business to hide assets, such as paying salaries for employees who do not exist.
  • Your spouse loans money to relatives or friends.

If your partner is involved in an extramarital affair, the money spent on that relationship is money taken from your marital assets. You have every right to claim restitution if your spouse is spending marital funds on an apartment, gifts or trips for his or her secret romance.

Seeking a fair share of assets

This is not unusual, and spouses have varying reasons for keeping assets secret during property division. Your spouse may fear not having enough money or simply want to keep you from obtaining what he or she feels you do not deserve.

It is important to remember that you have a right to a fair portion of marital assets. Seeking the assistance of an attorney may help you track down those hidden assets and claim them according to Florida laws.