If you live in Florida and divorce, assets collected over the course of your marriage are often, but not always, split in half. You may, one day, need to split your home, savings accounts, heirlooms, retirement funds and other assets between you, and your spouse may be working to position him- or herself comfortably for when that day comes. At the Law Firm of North Tampa Legal Group, we serve many clients who want to protect their financial interests and see that their assets are fairly distributed during divorce.
Per AOL, hiding assets is an unfortunate reality that takes place in many marriages, and it is not uncommon for a spouse to take action if he or she believes a divorce may be coming down the pike. If you believe your spouse may be trying to conceal assets in an effort to avoid having to split them with you, there are certain signs of deception that may raise a red flag.
Some tactics used to hide assets may be obvious, such as your spouse transferring funds to a new bank account or making uncharacteristic, but expensive, purchases, such as artwork. Other signs might be subtler, such as holding off on invoicing business clients, taking cash back on debit card purchases or even overpaying taxes to the Internal Revenue Service. Your spouse, too, may sell large assets to close friends or family members ahead of your divorce, while having a preexisting understanding with the buyer that the item would be sold back once proceedings are finalized.
This information about tactics used to conceal assets is intended to educate you, but it is not intended to be taken as legal advice.
On behalf of North Tampa Legal Group posted in property division on Wednesday, February 22, 2017.