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Could your ex be hiding assets? PART 2

In our last post we discussed the importance of making sure all assets are uncovered. Florida residents going through a divorce need to take every step in their power to protect their future, and that's where a lawyer comes into play.

Beyond finding hidden financial accounts, a lawyer can also look for other hidden assets. He or she may contact your ex's employer and issue a subpoena for information connected to benefits, such as retirement plans, deferred compensation plans and stock options. It can also be important to find any wire transfers, credit card statements and cancelled checks connected to undisclosed large purchases such as artwork and jewelry.

There may also be undisclosed real property. A review of financial documents can reveal property insurance or property tax payments related to real estate that you do not know about. A lawyer can also conduct a search of public records associated with your ex spouse’s name, which may reveal other properties.

Finally, it can be beneficial to depose your spouse. This is a good opportunity to ask questions about any questionable documents. Your spouse will hopefully be less likely to lie as he or she is under oath and can face consequences for being untruthful.

Divorce can definitely be a complicated process, but a lawyer’s knowledge on your side can really take the stress out of the situation. Divorce has an abundance of issues that need to be considered and discussed, but in the end, any effort put in will bring you one step closer to a better future. 

Source: The Huffington Post, “Discovering Hidden Assets: What Your Spouse Hasn’t Disclosed During Your Divorce,” Bonnie Sockel-Stone, Oct. 30, 2013

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