What to Do When You Suspect Your Spouse is Hiding Assets
Posted By Posted by Givens Givens Sparks on Oct 8, 2015 8:45am PDT || Oct 8, 2015During a divorce, both spouses are required to disclose their assets for the division process. Unfortunately, this isn’t always the case and some individuals feel that by hiding assets, they are giving themselves a financial benefit. This is an illegal action. If you suspect that your spouse is hiding assets, there are a number of legal avenues that you may consider in order to expose them. It is important to speak with a Tampa divorce lawyer to determine which course of action may be suited best for your situation.
An attorney can help you with the following actions:
Florida courts may be inclined to grant a request for more financial information from the spouse suspected of hiding assets. The discovery process can be very beneficial for the spouse who doesn’t have the same amount of assets. This may allow equal division of assets after a divorce.
What Can Be Divided?
When a couple files for divorce, there are a number of assets that they must disclose. These can include stocks and bonds, bank accounts, personal property, real property, furniture and household items, business shares, and more. These are divided based on a number of factors, but are most commonly based on whether or not the property was acquired during or before the marriage.
Usually, assets that were acquired during the course of the marriage are considered shared property and are typically divided in a fair manner. Assets acquired before the marriage or certain items received as part of an estate can be considered separate property and usually remain with the person who brought it into the marriage.
If you believe that your spouse is hiding assets, act quickly. These can be complex matters and having skilled legal counsel on your side can prove to be beneficial.