Last & Faoro - California Construction Attorney
Find Out How We Can Help. Call To Request Your Free Initial Consultation.
Local:
954-773-8983
Toll Free:
888-392-5781

Watch out for popular methods of keeping money from a spouse

Not every divorce is a bitter war, but the ones that are hold a lot at stake. Spouses may still have access to personal information and shared accounts during the early stages. If they are angry or worried about the money you both accumulated over the years, they have an opportunity to keep it away from you.

In no way do Florida courts encourage or reward this behavior. In fact, spouses who attempt to hide or destroy value could face a worse outcome. Despite the possible penalties, many people still try to hurt their former spouse financially.

Transferring money to a friend or relative is a very common money-hiding method. The spouse might officially claim that they owed the money or hope that you never notice missing funds. Once the divorce is over, they expect that their friend will return the full value to them alone.

Spouses may also spend the money on special items or investments. Art, jewelry, movie props or sports memorabilia are often under-valued by anyone without expert knowledge. This allows them to sell the items back after the divorce to liquidate the secret worth.

There are also more complex methods of hiding money, such as manipulating financial records through offshore accounts or cryptocurrency. These illicit strategies are extremely difficult for the other spouse to detect – let alone trace. In this situation, a divorce attorney can aid in the process of tracking down where marital money went.

Finally, spouses who seek pure revenge may simply destroy wealth. This can come in a variety of forms including buying stocks high and selling low, damaging shared property, gambling or making excessive consumable purchases.

Life savings are on the line in divorce, so spouses who notice odd behavior or expenses should request their lawyer to review the matter. Brushing this issue aside can lead to thousands of dollars in losses.

No Comments

Leave a comment
Comment Information