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Is your estranged spouse hiding assets?

The process of going through a divorce can bring out the worst in people. It is not uncommon for divorces that have taken a hostile turn in Florida to include spouses trying to hide valuable assets from their estranged partner. If you are facing a divorce, you should educate yourself on some ways to identify when a spouse is trying to hide assets.

Check tax returns

While some people have no issue lying to their former spouse, they don’t typically lie to the IRS so freely. Since there is a chance of heavy fines and imprisonment, most people provide truth on their tax returns. Go back a minimum of five years to check for financial inconsistencies, estate holdings and other assets that your ex may not be telling you about.

Unusual deposits and withdrawals in savings accounts

Abnormal deposits into a savings account may be an indication that your ex has some sort of investment that he or she isn’t telling you about. Keep an eye on any savings account that you have access to and see if there are abnormal amounts of money coming into it or going out of it. Since most people don’t monitor savings accounts as closely as checking accounts, they are often used to hide funds.

Check the courthouse

If your ex has borrowed money from a mortgage institution, their loan application is required to be on file at the courthouse. Anyone filling out a loan application is required to provide a list of their existing assets, and dishonesty on these forms is against the law. Since this paperwork is typically public record, you can use the courthouse to obtain a list of your ex’s assets.

Working with an experienced family law attorney may also help when trying to uncover assets that your former spouse is trying to hide from you. This attorney might be able to ensure that you get the assets you deserve in the final divorce decree.