hiding assets

Top Signs that Your Spouse is Hiding Assets in a Divorce!

Hiding assets during a divorce sounds like such a fantastic idea. You get to keep what you want and will not necessarily share it with the spouse you wish to divorce.

But that is not allowed. Any divorce attorney in Miami, Fl, will tell you that according to Florida Divorce laws, it is illegal to hide assets during a divorce. Both parties have a legal duty to disclose all their assets fully. 

Arturo R. Alfonso P.A. is the best Florida divorce attorney in Miami. We handle all sorts of cases and would love to represent you during your divorce proceeding. We have been doing this for over 25 years, and we understand Florida Divorce laws explicitly.

 

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Signs to Watch Out

If you are going through a divorce, you must be aware of the signs that your spouse is hiding assets. Hiding assets during a divorce is a common tactic and can lead to significant financial losses for the other spouse.

Delayed Receipt of Funds

The best divorce attorneys in Miami will ensure everything is fair. They can identify any delayed receipt of funds if there’s a sudden decrease in your spouse’s salary. If bonuses and commissions are a part of your spouse’s salary, a drop could indicate that they are holding off on receiving them.

This is considered ‘hiding assets,’ an alimony attorney in Miami will use the bonuses and commissions to come up with the spouse’s net worth for alimony considerations. It will not show up on the books until the divorce has been finalized.

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Cash Transfers and Withdrawals

During a free Florida divorce attorney consultation, you must disclose your finances, including cash transfers and withdrawals.

When you look at your bank statements, any unusual or unknown cash withdrawals or transfers are a red flag. This is primarily a red flag if you and your spouse had agreed to disclose transactions to each other beforehand.

Purposely Making Overpayments

Any divorce package in Miami Dade, Florida, should include investigating each spouse’s financial position, including any overpayments.

If your spouse overpays a creditor, they will receive reimbursement later, most likely after the divorce’s conclusion. Additionally, you should know that some people may fabricate family loans and include these debts in their financial accounts or send the family member cash for repayment.

In effect, it will reduce their overall worth during the divorce proceeding in Miami. The assumption is that the family member would repay the money after the divorce. Moreover, keep an eye out for funds that may be moved into your child’s name.

Devaluing Personal Assets

A reasonable divorce attorney in Miami should be keen on this. Your spouse can deliberately devalue their assets by claiming them to be of a much lesser value than they are. This can be done for various assets, from jewelry to cars and shares.

You can learn more about the above and other things during a Florida divorce attorney free consultation.

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Contact Arturo R. Alfonso P.A., today. We are ready to take your case and represent you in your divorce. We are distinguished attorneys with more than 25 years of experience and promise the most favorable outcome for your case.

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