What to Do if You Suspect a Spouse is Hiding Assets

In some marriages, one spouse may handle all the financial dealings for the household, enter the marriage with substantially more wealth, or have complex financial assets that hold the bulk of the wealth for the family. When couples in these situations decide to divorce, one spouse may attempt to hide assets from the other in order to benefit more after the proceedings. If you suspect that your spouse may be hiding assets from you in your Florida divorce, the law office of Blair H. Chan, III in Tampa can help. Call or contact our office today to schedule an initial consultation of your case to learn more.

Gather Evidence

If you suspect that your spouse is hiding assets, it is important to gather as much evidence as you can about you and your family’s assets. Documentation can help identify any financial mismanagement, unapproved transactions, or wealth discrepancies immediately prior to or during the divorce. These documents include, but are not limited to, the following:

• Tax returns, W2s, and 1099s
• Bank account statements
• Salary and withholding information
• Records of any cash transactions or gifts
• Bills, utilities, and other expenses, and more.

You may also collect evidence from family, friends, and business associates who may have knowledge of attempts by your spouse to hide assets. Take down the contact information of anyone who may have knowledge of your spouse hiding assets, as your lawyer can have them fill out and sign an affidavit of their knowledge for court. You should also check social media for any photos or videos that show new purchases or substantial gifts to family and friends, as this may be an attempt to hide assets during the divorce.

Talk to Your Attorney

It is critical that you speak with your attorney about your concerns that your spouse is hiding assets during the divorce, as a lawyer has legal options at their disposal to uncover these fraudulent dealings. An attorney can utilize legal means like depositions, interrogatories, requests for production, and more to compel evidence of hidden assets. A lawyer can also utilize the services of outside experts, such as forensic accountants and other financial experts, to go over the financial information for your family to identify any assets that are missing from the accounts.

If hidden assets are discovered, your lawyer can use the full force of the court to reclaim those assets and punish your spouse for attempting to hide them. Penalties in Florida include awarding the harmed spouse a greater portion of the property distribution, greater alimony payments, and even potential criminal charges against the spouse who hid the assets during the divorce. To learn more, talk to a lawyer today.

Reach Out to Us Today for Help

If you would like to learn more about what to do if you suspect that your spouse is hiding assets in your divorce, contact a Tampa divorce lawyer at the law office of Blair H. Chan, III today to schedule an initial consultation.

https://www.bchanlaw.com/can-you-separate-commingled-assets-in-a-divorce/