Dividing marital assets is a major aspect of the divorce process. Florida law requires the equitable division of all marital property, assets, and debts, which starts with an accurate assessment of the assets the spouses share. In some situations, one spouse might try to conceal assets from the other spouse and the court to gain a financial advantage and avoid having to give up certain assets. This is particularly common when one spouse largely handled the finances for the household, and the other spouse does not have sophisticated knowledge of their financial picture.
Hiding assets can result in significant repercussions if it is discovered. If your spouse successfully hides assets from you, it can deprive you of substantial funds that you deserve. You need the help of a skilled Tampa divorce lawyer who can ensure you receive a fair outcome in your case.
Discovering Hidden Assets
There are different ways that your spouse might try to hide assets or property from you in your divorce, such as:
- Transferring money to secret accounts
- Making large purchases and hiding the property
- Gifting funds to family members or giving them money to hold temporarily
- Concealing valuable possessions
- Misrepresenting the value of certain property or accounts
The discovery process is a critical part of every divorce case. Both spouses are expected to provide full disclosure regarding their assets and property, and when they fail to do so, the outcome of the case can be unfair. An experienced divorce attorney will use the discovery process to identify all assets that should be divided in your case. This can be complicated if you have high assets, a complicated financial portfolio, or if you suspect your spouse is trying to hide assets. It is important to speak to your lawyer if you think this might be an issue with your spouse.
Protecting Your Interests in Your Divorce
Trying to hide assets is risky, as the law and the courts take this conduct very seriously. If the court discovers that a spouse failed to report certain assets, the judge can order them to disclose this information. If your spouse still fails to report assets, they can be held in contempt of court. If your spouse lies under oath in a deposition or in court, it can constitute the crime of perjury.
Once all of the marital assets are discovered, the court might then award you a larger portion of them due to your spouse’s deceptive conduct. At the very least, your attorney will be able to fight for an equitable share of assets for you under the law.
Contact a Tampa Divorce Lawyer Who Can Protect Your Rights
The Law Office of Mark G. Rodriguez, P.A. represents clients in divorce cases involving complex financial situations. If you are getting divorced, you need the right legal representation, so please contact us online or call 813-227-9642 to speak with a Tampa divorce attorney.