Orlando Hidden Assets Attorney
When people think of infidelity, they tend to think of the sexual or emotional kind. However, there’s another type of infidelity that they should be worried about, especially if they are going through a divorce. It’s called financial infidelity.
Financial infidelity is pretty much cheating on your spouse when it comes to money. It happens in a lot of marriages, in which spouses have hidden bank accounts or credit cards. They may hide money from their spouses or fail to tell them about income and assets.
Hiding assets in a divorce, however, is illegal. Orlando hidden assets attorney Steve W. Marsee, P.A. Attorney at Law can make sure you get an equal share of all marital assets.
What the Law Says
In Florida, divorcing couples must comply with mandatory disclosure requirements. This means that each spouse is required to exchange financial information, such as pay stubs, bank account statements, and tax returns. They must also file a financial affidavit, which is a document that lists details about each spouse’s income, expenses, assets, and debts. These processes can help determine if someone has hidden assets.
Spouses who hide assets in a divorce may face criminal or civil contempt of court. They can also face perjury if they lied in court. They may also face fraud charges, which can result in fines or jail time.
Concealing assets can also affect a divorce. The other spouse may be awarded more assets from the court. In addition, the dishonest spouse may have to pay for investigator bills, court costs, and other fees.
Where to Find Hidden Assets
If you think your spouse is hiding assets, here are some places they may be:
- New accounts. A spouse may hide money by opening a new bank account in someone else’s name, such as a child, a family member, or even a new boyfriend or girlfriend.
- New property. Many spouses will cover up money by converting it into property, such as vehicles or jewelry.
- Friends and family. It’s possible for a spouse to give cash to friends or family and have them hold onto it until the divorce is over. In some cases, a person may even transfer stock or other investments into someone else’s name so the assets cannot be found.
- Family business. Assets could also be hidden in a family business. They may do so by creating fake employees and paying them a salary, with the money later coming back into the account.
Contact Us Today
Hiding assets is not only morally wrong but also illegal. A person who is caught hiding money and other assets in a Florida divorce can face criminal penalties.
Do you think your spouse is hiding assets? If so, seek legal help from Orlando hidden assets attorney Steve W. Marsee, P.A. Attorney at Law. We have ways to uncover anything that might be missing. Schedule a consultation by calling 407-521-7171 or filling out the online form.