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When spouses attempt to hide assets during divorce proceedings
When spouses attempt to hide assets during divorce proceedings

When spouses attempt to hide assets during divorce proceedings

On Behalf of | Oct 20, 2017 | Firm News |

A grievous and litigious divorce is the last thing married Florida couples would want to go through; unfortunately, these situations tend to happen more often than people think. Even though family court divisions in the Sunshine State try to offer couples options to avoid the unpleasantness of a divorce trial, Chapter 61 of the Florida Statutes give afflicted spouses an opportunity to muddle the process with litigation and obfuscation.

Financial issues are known to arise in divorce cases when the spouses do not get along, and one common situation is the hiding of assets for the sole purpose of giving the other party a hard time. Naturally, such behavior is not allowed in a dissolution of marriage, but it is known to happen. In general, a divorce proceeding requires full financial disclosure from both the parties involved, particularly when it is a high-asset divorce that may result in an order of spousal support.

When a spouse tries to hide assets during a divorce case, the truth invariably comes out. Family law attorneys will often ask their clients if they believe that their spouses are trying to hide assets. If this is the case, the court may be petitioned so that an order of full disclosure is issued, especially when child support is expected.

Some attempts at hiding assets are clumsy; an example would be turning in an incomplete financial statement. Other attempts may be malicious, which may involve fraudulent money transfers out of joint bank accounts. There also may be assets tied up in trusts. If they are “bulletproof” irrevocable instruments domiciled in Nevada, the judge may still be able to look into them and check if the marital property is being held therein.


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