Hiding marital assets is an illegal activity in most states; however, that doesn’t keep it from occurring. Individuals sometimes hide assets to keep their spouse from getting a larger divorce settlement. If fewer assets are shown in court, the other spouse typically will receive a lower divorce settlement. Unfortunately, this is not all that uncommon a behavior by many spouses in a Florida divorce. However, with newer technology in place, it is becoming more and more difficult for marital assets to be hidden.
Offshore accounts are sometimes used to hide money, as are safe deposit boxes or another place where there is seemingly no public or paper record of the information. However, the source of the funds is still there, and often the funds can eventually be traced. It may take more time than what one would prefer, but in the end, the time spent uncovering those assets is well worth it, especially when considering that the spouse may be entitled to a portion of those recovered assets.
Forensic experts and divorce lawyers are often able to uncover what is supposed to be hidden in a matter of minutes, thanks to new technology tactics. These tactics allow for individuals to analyze thousands of credit card bills, financial statements and other documents rapidly. A paper trail may have once been able to be hidden, but with computer technology today, everything is in a hard drive somewhere.
In most Florida divorce litigation, money and marital assets cannot be hidden. With so much new technology available at our fingertips, it is almost impossible to be unable to uncover hidden assets. As long as one does not mind spending the time to investigate, the discovered assets could have a significant effect on a subsequent divorce settlement.