Looking for hidden assets in a high-asset divorce

| Feb 13, 2018 | Uncategorized

You may already realize this, but divorce can bring out the worst in even the most reasonable people. When you add wealth or valuable assets to this already potent mix, the entire situation may devolve into absolute chaos.

As family law attorneys, we cannot say with any authority why a person would try to hide assets during the property division process. We can only say that it happens more than you might think while offering a few tips to help you uncover these assets.

  1. During property division, each party must disclose information about their assets. Obviously, if a spouse discloses nothing, it is a sure bet he or she is lying. Most people do make voluntary disclosures so it falls upon you to look over these disclosures carefully to detect omissions, errors or falsifications. Your divorce attorney can be a big help in finding such discrepancies.
  2. If you suspect that your spouse has failed to disclose all of his or her assets, you can have your lawyer make a formal request for information. The request can center on specific financial information or general information. Your spouse is required to respond to this request within a specified time frame and must answer truthfully while providing applicable documentation.
  3. The third tip is to seek professional assistance to uncover hidden assets. Most attorneys experienced with high-asset divorce are an excellent resource in this endeavor. You and your lawyer may also consider working with a forensic accountant to ensure all finances are disclosed for accurate property division.

Please visit us online if you would like additional information or guidance about family law and property division in the state of Florida.

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