Is Your Spouse Hiding Marital Assets During Your Divorce?

A few weeks ago a report came out that Dmitry Rybolovlev, one of the 100 richest people in the world, had been accused of hiding close to $100 million dollars during his divorce. If you are in a situation involving such incredible wealth, you should seriously consider a prenuptial agreement, which a Jacksonville, Florida Family Law Attorney or a Jacksonville, Florida Asset Protection Attorney can help draw up for you.

However, even if you are not on the Forbe’s richest list, you obviously do not want your spouse to hide assets during your divorce. This can negatively affect division of other assets, which would not be good for you. Plus, this would be fraudulent to the court. But how do you know when your spouse is hiding assets? A recent Forbes article outlines some of the red flags. Many of the tips are somewhat obvious, but may be difficult to see unless you are looking at it from an outside prospective. Here are some tips and warnings to look for:

If your spouse maintains total control of your joint bank account information, make sure you keep track of the bank statements. Most banks have online services, so you should be able to monitor it from there. If your spouse denies you access to the password, but your name is nevertheless on the account, go to your bank and ask for a statement.

Trust your instincts, and take notice of suspect statements and actions revolving around finance. Does your spouse claim his or her business is now failing? Is quickbooks now gone from your computer with no explanation? These can be signs that something is amiss.

Look at your spouse’s investments. Did he or she recently pour a ton of money into a tax-deductible retirement account? If so, your spouse may be trying to artificially lower his or salary, which could also lower the amount of money you’re entitled to. Similarly, keep an eye out for purchases of big-ticket items that could be sold for a profit later on, such as artwork.

Do not fall victim to a spouse who knows how to play the system. Get all the information you can and call a Jacksonville Florida Family Law Attorney. A Florida Family Law Attorney here in Jacksonville can help you avoid some of the pitfalls during marriage, while respecting the fact that this is a trying time for you.