The Importance of Hidden Assets in a Divorce in Gainesville, FL
Without complete transparency and full disclosure, a judge cannot make a fair and just ruling in a divorce case. In order to avoid paying higher levels of child support or spousal support, sometimes one party will try to hide assets from the other party.
If you find yourself in this situation in Gainesville, Florida, Kenny Leigh & Associates can help. Our team of experts can perform asset locations searches to find all hidden assets so they’re readily known and available during divorce hearings.
Common Hidden Assets
Here are some common examples of hidden assets in divorce cases:
- Antiques and Collectibles: Because it can be difficult to determine the value of unique items, it’s easy to misrepresent an item’s value.
- Income Statements: Falsified income statements can hide assets.
- Cash: Some forms of cash, such as traveler’s checks, can be difficult to trace to a party’s account.
- Accounts: Some people have diverted funds to accounts set up for different people, such as children or relatives.
- Phony Debt: Phony debt is money transferred to a friend or colleague to pay back a non-existent debt. The friend then gives the money back after the divorce proceedings are over.
- Benefits: Failing to inform spouses of benefits eligibility is another way to hide assets during divorce proceedings.
- Real Estate: Real estate properties, whether income producing or not, may become hidden assets.
Preparation for Hearings is Key
Don’t let hidden assets derail your hearing in terms of child custody, child support, alimony, and other finance-related issues. Trust Gainesville’s Kenny Leigh & Associates to help you have all of your information readily available for your hearings.
Gainesville men who feel that assets are being hidden from them can prepare themselves for their divorce hearings with the help of our divorce attorneys. When you prepare ahead of time by uncovering hidden assets, you are much more likely to receive a fair and just ruling in your divorce case.