Uncovering Hidden Assets In Your Tampa Divorce
Florida law requires both spouses to be open and honest when disclosing assets in a Hillsborough County divorce. However, not everyone plays fair, and it is not uncommon for one party to try hiding income, bank accounts, or property to avoid splitting them in the final divorce settlement.
If you suspect your spouse may be concealing assets, it’s important to act quickly. Our Tampa divorce lawyer explains what you need to know about uncovering hidden assets and how to protect your rights.
Signs Your Spouse May Be Hiding Assets During A Tampa Divorce
When getting a divorce in Hillsborough County, all marital property and assets must be equitably divided. Under Section 61 of the Florida Statutes, this includes any savings, retirement accounts, real estate, and business interests earned or acquired during the marriage. Hiding any of these from the other spouse or the court is not just unfair and unethical. It’s illegal.
Unfortunately, the spouse who has historically handled the couple’s finances is often better positioned to conceal assets. If you suspect hidden assets in a Tampa divorce, common red flags to look for include:
- Sudden changes in financial behavior, such as moving money between accounts;
- Unexplained drops in income or claims of new debts;
- Business revenue that appears lower than normal;
- Overpayments to creditors, with refunds issued post-divorce;
- Transferring assets to friends or family members temporarily.
If you notice these warning signs, notify your divorce lawyer immediately. Florida courts take asset concealment seriously and may issue sanctions or adjust property awards if it is discovered.
Legal Tools to Uncover and Address Hidden Assets During Hillsborough County Divorce Proceedings
Family law financial affidavits detail a couple’s property and assets in a Hillsborough County divorce. Suspect your spouse is hiding assets? There are different tools our Tampa divorce lawyer can use to help ensure you get your fair share:
- Formal discovery, which includes written questions, document requests, and depositions to uncover financial inconsistencies.
- Subpoenas to banks or employers, which can reveal undisclosed accounts or income sources.
- Forensic accountants, who can analyze tax returns, financial statements, and business records to find signs of concealment.
- Review of digital assets, in which cryptocurrency wallets, PayPal accounts, or investment apps may hold hidden value.
- Property records and titles, if your spouse tries to hide ownership by titling property in another person’s name.
Once we locate hidden assets, they can be subject to equitable division. In addition to imposing penalties on your soon-to-be ex-spouse, the court may also award you a larger share in a settlement.
To Get What You Are Entitled To In A Settlement, Contact Our Experienced Tampa Divorce Lawyer
Hiding assets in a Florida divorce is a legal violation that can backfire in court. If you believe your spouse is not being truthful about their finances, get an experienced Tampa divorce lawyer on your side who knows how to uncover the truth.
At Bubley & Bubley, P.A., we help clients throughout Hillsborough County protect their rights and hold dishonest spouses accountable. Contact us today to schedule a consultation.
Sources:
leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/0061.html
flcourts.gov/Resources-Services/Office-of-Family-Courts/Family-Court-in-Florida/Family-Law-Forms/Additional-Supporting-Documents-12.902-Forms-B-J/Family-Law-Financial-Affidavit
