You have probably heard the following phrase many times: Divorce brings out the worst in people. This is certainly the case in many situations, especially when a large amount of property or money is at stake. High-asset divorces occur frequently in Florida with each spouse typically harboring concerns about the fairness of the property settlement.
Sometimes, these concerns are so strong that one spouse will attempt to hide assets from the other spouse. This is both morally wrong and unlawful, but it happens all the same in high-asset divorces. If you are planning a divorce with valuable assets at stake, it is probably worth the effort to do some investigating.
You can try to look for hidden assets on your own, but you will probably have better results if you have a legal professional on your divorce team. Attorneys know how to search for these assets whereas most people don’t know where to begin. Some of the most common ways a spouse attempts to hide assets include:
- Acquiring art or other valuable commodities
- Failing to report all income, especially cash payments
- Making false repayments to a friend or family member
- Paying a “salary” to a fake employee
- Depositing money into an account created for a child
- Investing in no-interest accounts that may not show up on tax returns
If you suspect that your future ex-spouse is engaging in illegal and immoral activities like hiding assets, it is wise to take immediate action. In many situations, you can protect your financial future by consulting with a law firm experienced in handling high-asset divorces. Protecting your finances now puts you in a better position to begin life anew.