Why You Need A Lawyer If You Suspect Hidden Assets
If you are separating and planning to divorce in Tampa, and you suspect your spouse is hiding assets in order to retain them, it is crucial to have a lawyer on your side.
A seasoned Tampa family lawyer has years of experience in Florida divorce laws, they can guide you through the laws and procedures involved in your case. Part of the process could be discovery of assets and bringing them to light. Your attorney can investigate financial records and uncover any assets that are being hidden by your spouse, so a full and fair divorce agreement can be reached.
Indicators of Hidden Assets
It is important to note that assets can be hidden in a variety of ways. Some of the records your lawyer will review include bank records, tax returns, and other financial documents. When a situation is particularly complex, lawyers have ongoing relationships with other professionals, such as accountants and private investigators, to help them collect the necessary documentation.
Some warning signs that your spouse may be hiding assets during the divorce process:
- Spending habits have changed. If your spouse suddenly starts spending more money than usual, this may be a sign that they are trying to hide assets.
- Unusual withdrawals and deposits. Large, unexplained deposits or withdrawals from bank accounts should be noted so they can be addressed.
- Closing joint accounts. While joint accounts will need to be separated, it would be odd if your spouse closes joint accounts or transfers funds to their own individual account without talking to you about it or sharing the final balance prior to the transfers.
- Transferring a business or property. It’s a red flag when a spouse moves business ownership or property ownership to a friend or family member for no clear reason.
- Avoiding financial information disclosures. Refusing to disclose financial information or provide records could be an indicator of hidden assets.
Of course, these warning signs are not guarantees your spouse is hiding assets, but they are situations that need to be fully reviewed.
Finding Assets and Protecting Your Rights
Once it is clear that there is a full monetary disclosure, including unearthing assets if that applies, your lawyer will talk over possible agreement terms and then negotiate a fair settlement with your spouse and their lawyer, prioritizing what is important to you. A complete, mutually acceptable agreement will outline asset and debt allocations, property division, alimony, and child custody concerns. If an agreement cannot be negotiated, your lawyer will represent your interests in court.
As you move to untangle marital finances, it is essential to have a Tampa family lawyer on your side. A lawyer will use their background and expertise to help you uncover hidden assets, negotiate a fair settlement, and protect your rights.
What hidden assets and financial questions do you have? Legal professionals are available to guide you through the divorce process. Speak with the legal team at Blair H. Chan, III about what is possible given the unique details of your situation. Call 813-280-5301 to schedule a consultation.