Going through a divorce can be a challenging and emotional process, especially when financial matters come into play. In some instances, a spouse might try to manipulate assets to protect their interests, leaving you at a disadvantage.
It is essential to understand how asset manipulation can occur and how you can protect your rights if necessary.
Identify possible signs of asset manipulation
Pay extra attention to your spouse’s behavior during the divorce process. If they suddenly have less money, start making large purchases or excessively give gifts, these could be signs of asset manipulation. They might be trying to devalue their assets to receive a more favorable settlement. Additionally, if your spouse starts insisting on managing all financial matters alone, it could indicate that they are hiding something.
Gathering and maintaining thorough records of all marital assets can help you safeguard your interests. Keep a record of all financial documents, like bank statements, tax returns and property deeds. Regularly check these documents for any unexplained changes or transactions.
Understand how to protect your rights
Familiarize yourself with Florida’s equitable distribution laws, which require a fair (but not necessarily equal) division of all marital assets during a divorce. If you suspect your spouse is manipulating assets, speak up. You have a right to an equitable division of all marital property.
Remember that hiding assets is illegal and can lead to severe consequences, such as fines and penalties.
Divorce is a time of significant change and uncertainty. However, being proactive in protecting your rights can help you navigate this difficult time more confidently.