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Mark Abzug

Is your spouse hiding money?

On Behalf of | Feb 4, 2022 | Property Division

When a Fort Lauderdale area couple decide to get a divorce, they have often gone through a long period of emotional clashes. A divorce can be one of the worst times of a person’s life. There are many complex issues that need to be worked through and doing this during a stressful time can be difficult. A person who is going through a high-asset divorce may also face the possibility that their spouse is hiding assets. Since Florida is an equitable distribution state, it is important that all assets are part of the divorce settlement.

If a person believes their spouse is hiding assets there are certain steps they should take.

  • Make a list of all assets and determine which are separate, which are marital, and which are comingled. Even if you don’t have rights to your spouse’s separate property, knowing the value of all assets between the two of you is crucial.
  • If your spouse was in charge of financial matters during the marriage, ask them for the financial records. If the spouse refuses or if you believe there are documents being withheld, then there’s a good chance that they are hiding money.
  • If it is believed a spouse is hiding money, the divorce will go through a discovery process. Your attorney will perform various discovery options including:
    • Subpoena business records
    • Make requests for admissions
    • Take deposition of spouse
    • Take deposition of other people
    • Issue interrogatories of spouse to answer
    • Make requests for documents

Hiring an attorney who is skilled in family law is crucial to this process of discovering hidden assets. An attorney will know exactly what to look for and will make sure the divorce settlement is fair for their client.