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Helpful information if you suspect hidden assets in your divorce

On Behalf of | Jan 11, 2025 | Asset Division

It’s a sad reality, but divorce can bring out the worst in people– especially when valuable assets are at stake. Sometimes, a spouse will go to great lengths to hide them to keep them out of the other spouse’s hands.

Since uncovering hidden assets can be a daunting endeavor, the right information is invaluable. Here, we discuss some signs a spouse may be hiding assets and where to look for them to ensure they are accounted for in your divorce.

Common indicators

One of the first signs your spouse may be hiding assets is a sudden change in financial behavior. This could include opening new bank accounts, making large or unusual purchases, withdrawing unusual sums or transferring funds to family or friends. Additionally, if your spouse becomes secretive about their financial situation or refuses to share important documents, it could be a red flag.

Locating hidden assets

To uncover hidden assets, you may need the help of a forensic accountant or financial investigator. These professionals have the skills and resources to trace hidden funds and uncover any unusual transactions in your spouse’s financial records.

Places to look for discrepancies or evidence include:

  • Tax returns: Review past returns for unknown assets
  • Bank statements: Check for unusual deposits, withdrawals and purchases
  • Credit card statements: Identify significant purchases
  • Business records: Examine for hidden assets and income

One possible way to determine your spouse’s true financial status is by examining recent loan or credit card applications. There is a chance your spouse disclosed their income and asset holdings in the application process.

If the thought of taking these steps is discomforting, there is no need to worry. Your divorce representative can lead the charge in your quest to achieve a fair settlement under Florida equitable distribution laws.