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Being Aware When Your Spouse is Hiding Assets

Couples who file for a divorce do so for a variety of reasons, many times they have fallen out of love or are ready to move on. While some divorces may be a smooth process for the most part, other divorces can be rather difficult, especially when your spouse is trying to hide assets from you. A huge concern with this topic is that if your spouse is hiding assets from you, does that mean you will not receive what you actually deserve in the divorce settlement?

Having a strong Jacksonville divorce attorney on your side is going to be the most important decision you make when considering a divorce. At Hutchinson Law we are experienced in the area of divorce and family law, we understand that a legal divorce is not just signing one paper and calling it a day, but rather it is a process that can be done well with the guidance of a practiced attorney.

First off, it is important to understand that the act of concealing your assets is not only wrong and unethical for the other spouse, but by law it is considered to be an illegal act. If convicted in court for concealing assets, the individual could be facing some serious consequences depending on the judge presiding over the case. In many situations, a judge can force the spouse to hand over to their ex the entirety of the assets they were seeking to conceal as a form of punishment for their crime. Unfortunately for some people, knowing the consequences of the law is not enough and the act is still committed. Here are a few tips to consider if you are planning on a divorce in order to prepare yourself to be on the lookout for those hidden assets. Within any given marriage, no matter their income, there are going to be a variety of assets involved. This includes cars, properties, bank accounts, benefit or retirement plans, life insurance, stock, etc. Even happily married couples have a difficult time managing all of their different bank accounts and investments, going through a divorce only makes that more difficult.

Having your spouse attempt to conceal your assets is not a situation that one would like to deal with in the future; however, if you are considering a divorce, being knowledgeable about the possibilities now may just save you a few of your pennies down the road. Married couples are considered to be a team as they share just about everything together, and yet usually there is one spouse who controls the finances for a variety of reasons. It may be that one spouse is not good with numbers; one works less and therefore has time to manage the accounts, etc. Whatever the case may be in your home, one of the steps that you can take to prepare yourself is to make sure you thoroughly know your banking accounts, and where your money is; all of it.

There are many signs that a spouse can be aware of when they are filing for divorce, working with a divorce lawyer will help you be aware of these signs and know what legal steps of action that you should take as a response. When planning to divide the assets in a divorce, an analysis will be taken to determine each spouse’s standard of living in order to determine things like alimony or child support, and in many situations this process can help uncover those hidden assets your spouse has been concealing from you. If you are suspicious of your spouse in any way, there are obvious signs you can look for, but it is essential to know that snooping into their private emails or documents can get you into trouble with the law down the road, it’s just not worth it, talk to your lawyer about your concerns instead.

If you are noticing that perhaps your spouse is underreporting on taxes, overpaying creditors, involved in false debt scams, deferring their salary or bonuses so that they don’t show up on the record, and more can be just a few signs that something is not right with how your spouse is handling money. There are many possible schemes that your spouse can do in order to hide money from you until your divorce is final and then bring it back as though nothing ever happened. This can happen when a person creates false debt that they “owe” another person, usually a trusted friend, in which they make payments to them and then after the divorce receive the money back in full leaving their ex in the dust.

Being knowledgeable of your finances in your marriage, and in the period of your divorce is essential, because no spouse deserves to be cheated from what they deserve in their divorce settlements! Protecting your assets in a divorce is an important part of your separation, you want to make sure that you not only receive what you deserve when you split, but also that it was fair in regards to all of your assets, don’t let your spouse walk all over you; with the help of an experienced attorney we can fight to make sure that everything is put out on the table when you and your spouse make your settlements for divorce. Contact Hutchinson Law today for the experienced divorce attorney that you deserve!

Categories: Divorce, Tips & Advice
  • Over a Decade Of Trial Tested Experience

    See how the team at Hutchinson Law can put our years of experience to work for you!

    About the Firm
  • The Benefits of Uncontested Divorce

    Get the facts about uncontested divorce to determine whether or not it’s right for you.

    Why Uncontested Divorce?
  • Tell Us About Your Family Law Case Today

    Fill out an evaluation form to have our attorneys review your situation.

    Get Started

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Hutchinson Law
Jacksonville Divorce Lawyer
Located at: 6817 Southpoint Parkway,
Suite 702,

Jacksonville, FL 32216
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Phone: (904) 638-3134
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