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Should I worry that my spouse is hiding assets?

When it comes to divorce in Florida, it is not uncommon for spouses to become focused on one-upping each other. For one reason or another, one person may feel that he or she is not getting what he or she believes is a fair share of the marital assets. To resolve the issue, the individual may resort to hiding assets to cheat his or her spouse. If you believe your partner is hiding assets, it is a good idea for you to act right away to put an end to this illegal behavior to protect your interests. 

Here is a brief overview on how to protect your share of marital assets. 

Discover all sources of income, assets and properties 

Ask your spouse about all accounts he or she has. Look around your home for ATM receipts to learn if your spouse has bank accounts that you do not know about. Check your bank statements for unexplainable withdrawals and deposits. Because your partner can use a variety of methods to hide assets, you may need some assistance discovering where they are. You may benefit from hiring a private investigator or forensic accountant to help. You can also inform the courts that you suspect your partner is hiding assets. They can use discovery to subpoena your partner’s financial information and activities to find out if there is any justification to your suspicions. 

When your spouse hides assets, he or she is cheating you and your children financially. If you do not discover or recover any hidden assets, you may not receive your fair share. You could end up with significantly lower child support and alimony awards and undesirable property distribution results or nothing at all. 

If you learn that your ex-spouse hid assets during your divorce after the finalization, it is possible for you to recover your share of them. Because you live in an equitable distribution state, you may need to sue your spouse for your share of the assets they hid during your divorce.

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