There are serious financial implications involved in the divorce process. The outcome of your property division could set the stage for your financial wellbeing for years, perhaps even decades to come. That’s why it’s imperative that you do everything you can to make sure that you’re receiving a fair and favorable outcome, especially given that Florida is an equitable distribution state, meaning that the marital estate is divided in a fair but not necessarily equal fashion.
Look out for these red flags of hidden assets
To ensure that you get your fair share of the marital estate, you have to make sure that you’re including all marital assets in the property division process. That might sound simple enough, but the truth of the matter is that spouses hide assets from each other all the time with the intention of keeping those assets to themselves and bypassing the property division process. Here are some red flags that your spouse may be hiding assets from you:
- Your spouse retains or suddenly takes control over marital finances
- You notice large withdrawals without explanation from your spouse
- You realize that payments are being made to a new credit card that you didn’t know existed
- Your spouse is always complaining about not having money despite appearances to the contrary
- Your spouse has opened up a new checking account
- Your spouse has obtained a post office box
- There have been sudden and perhaps drastic changes to the family business’s income or debt
If you identify any of these red flags, then you should take further action to investigate further. Only then can you determine if your spouse is trying to cheat you out of your fair share of the marital estate.
Know how to handle all aspects of property division
Divorce is hard, and the property division process is challenging. Yet, regardless of how badly you want to get the process over with, you need to take the time necessary to ensure that you’re protecting your interests. This means thoroughly analyzing every aspect of your marital estate and taking the proactive measures that may be necessary to loop once hidden assets back into the property division discussion.