Florida residents who have gone through a divorce may tell you that it is emotionally, mentally and financially draining. However, until you find yourself in the midst of divorce proceedings, you may not truly understand how difficult a time it can be. In many divorces, these difficulties can be exacerbated if one spouse is attempting to hide marital assets.
Because Florida is an equitable distribution state, the marital assets will be divided equitably. This does not mean it will be on a 50/50 split. It means that each spouse will get an equitable share of the marital assets. For example, one spouse may get the family home, and the other spouse may get the family business.
Because of this, those who seek to hide marital assets can get very creative. From offshore accounts to shell corporations to tax shelters, the spouse will often try any means possible to keep as much of the marital assets for themselves.
There are ways to find these hidden assets and make sure they are included in the property division. Money transfers out of a closely-held business can be hidden but also can be found by forensic accountants. Private investigators may locate offshore accounts, while other financial and tax advisors can find additional hidden assets.
The key to locating hidden marital assets is to begin searching for them as soon as possible. We help people going through a divorce find the money, property or other assets that are hidden away. Our experience in complex asset discovery can make property division in Florida more beneficial for the spouse who was about to be slighted by his or her soon-to-be ex. To learn more, simply visit our property division webpage.
Source: The Law Offices of Barry I. Finkel, P.A., "Lawyers For Finding Hidden Assets During Divorce" Sep. 03, 2014