Dividing property fairly is a key part of any Florida divorce. But sometimes one spouse may hide assets to avoid sharing their true value. Understanding what courts look for and how to protect yourself can be crucial during divorce proceedings.
Common Methods of Hiding Assets
Some common ways assets are hidden include transferring money to friends or family, undervaluing property, or moving assets to offshore accounts. Others might delay a business deal or bonus until after the divorce is finalized or funnel money into cryptocurrency or digital wallets that are harder to trace. Florida courts and attorneys are aware of these tactics and will scrutinize financial records closely. Forensic accountants may be brought in to uncover hidden assets during the divorce process. They can analyze tax returns, bank statements, and business records to detect inconsistencies or red flags.
Protecting Yourself from Hidden Assets
Maintaining detailed financial records and being transparent about your own assets helps your case. Keep copies of account statements, investment records, and any communications about money. If you suspect your spouse is hiding assets, working with an attorney who can investigate and request proper disclosures is important. The court aims to ensure a fair division, so uncovering all marital property is a priority.
Legal tools like subpoenas and discovery requests can help obtain documents your spouse may not willingly share. In high-asset divorces, your attorney may also bring in outside professionals to evaluate business interests or appraise complex property holdings. The more thorough your preparation, the stronger your case.
If you are going through a divorce in Florida and worry about hidden assets, consider reaching out to a family law attorney Tampa, FL who can help protect your financial interests. Being proactive can make all the difference in a contested divorce. Don’t wait until the last minute to raise concerns—early legal advice can help preserve your rights and uncover the full financial picture.