18 Nov Hidden Assets Are More Common in Divorce Cases Than You May Think
Hidden Assets Are More Common in Divorce Cases Than You May Think
One of the most common reasons for hiding assets is, of course, divorce. It’s sad to think that a relationship that started out so full of love and trust can end up with one of the parties trying to defraud the other. It’s bad enough having to heal a broken heart without having to deal with being treated unfairly in the divorce settlement.
Jeff Landers , a Forbes contributor who writes for women going through financially complex divorces, has identified many of the ways husbands typically try to hide their assets. “Hiding assets during a divorce is sneaky, unethical and illegal –but it happens much more frequently than most women expect,” he says.
“Think about it,” he continues. “Many couples today have complex financial portfolios. (Your list might include your marital residence, rental and/or vacation properties, bank and brokerage accounts, retirement and pension plans, stock options, restricted stock, deferred compensation, life insurance with cash value, perhaps a business or professional practice . . . and probably much more, too.) Even in the best of times, it can be extremely difficult to keep track of all these moving parts. When a couple decides to divorce, that task can get exponentially more complicated.”
He has some advice for women who are concerned about the possibility that their husband is hiding assets. “For starters, be on the lookout for certain telltale signs that your husband has some dirty tricks up his sleeve. And, make sure you work with a qualified divorce team to help ensure that you have the professional expertise and support required to receive a fair settlement.
(For example, in many divorces, a lifestyle analysis will be conducted by your divorce financial planner to establish a clear picture of your standard of living during the marriage. Not only can this lifestyle analysis be used to help determine alimony and child support, but it also serves as an invaluable tool to help determine if there could be hidden assets and/or income. The reason is simple. Once you analyze the couple’s marital living expenses and connect those expenses to all known sources of income, assets and loans, it is fairly easy to see if there is a mismatch. If the amount of living expenses exceeds the amounts of known income, assets and loans, a giant red flag appears! Discrepancies like this are one telltale sign of concealed income and/or assets. The goal of a lifestyle analysis in essence, is to determine if the amounts of reported income, assets and liabilities were sufficient to fund their marital lifestyle.)”
Having the facts is the best way to ensure you will be treated fairly. That’s where Five Points Private Investigations can help. Our private investigators in Wellington FL and throughout South Florida know where to look to determine if assets are being hidden or haven’t been disclosed. When it comes to a financial assets search, we are experts. You might talk to a Boca Raton private investigator on our team or a Fort Lauderdale private investigator, either way, you’ll be connected with an expert who will look far and wide to ensure all assets you’re entitled to have been disclosed. We’ll search on the local, state and national level to protect your interests.