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How to handle hidden assets in a Florida divorce

On Behalf of | May 30, 2023 | Asset Division

Handling hidden assets in a Florida divorce can be complex and sensitive. Hidden assets refer to any property, income or financial accounts that one spouse intentionally conceals or fails to disclose during divorce proceedings. 

Uncovering these hidden assets is crucial to ensure a fair and equitable distribution of marital property. Here are some steps to handle hidden assets in a Florida divorce.

Gather financial records

Compile all relevant financial documents, including bank statements, tax returns, investment portfolios and business records. These records can provide valuable insights into the existence and value of hidden assets.

Conduct a thorough investigation

Work with a financial professional to investigate your spouse’s financial affairs. This may involve hiring a forensic accountant or other experts to analyze financial records and identify discrepancies.

Seek court-ordered discovery

In Florida, both spouses must provide full financial disclosure during divorce proceedings. If you suspect hidden assets, your attorney can request court-ordered discovery, which may include subpoenas and depositions, to compel your spouse to disclose all relevant financial information.

Consider digital forensics

In today’s digital age, hidden assets may also exist electronically. Consult a computer forensics expert who can search for evidence of undisclosed assets, such as offshore accounts or hidden cryptocurrency wallets.

Evaluate lifestyle and spending habits

Discrepancies between your spouse’s reported income and their actual lifestyle and spending habits may indicate the presence of hidden assets. Provide evidence of any extravagant purchases or undisclosed sources of income to strengthen your case.

Remember, uncovering hidden assets requires a meticulous approach and professional guidance. Following these steps, you can protect your rights and ensure a just outcome in your Florida divorce.