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Financial Infidelity in Divorce in Sunny Isles, FL; Gifting Property, Underreporting Income, Not Declaring Bank Accounts & More

A couple’s assets and liabilities must be divided when a marriage ends. Each spouse is expected to fully disclose their income, debts and assets in order to do so. To get a better financial “deal” in their divorce, people sometimes attempt to obscure the truth unfortunately. There is a significant negative impact on your finances for years after the final divorce decree has been signed if your spouse hides assets or overstates debts. With this in mind, we at Advanced Private investigator & Security of Miami, FL would like to share common finance deceptions that occur in the divorce.

Financial Dishonesty in Marriage & Divorce

1) Assets are gifted or transferred. With the understanding that they will be re-gifted after the divorce is final, sometimes, one spouse will try to remove assets by gifting them to a family member or friend.
2) Failing to disclose accounts. One or more bank or investment accounts are intentionally failed to disclose among a spouse that is anticipating a divorce. This is quite common.
3) Debts are overstated. In an attempt to pay less in the divorce settlement and/or in spousal maintenance or child support, one spouse may try to create fictitious debts or overstate the amount the spouse owes to creditors.
4) Business revenues or assets are under-reported. To make the business appear less successful, business assets or inventory may be intentionally undervalued. One spouse may also try to hide income by not reporting it on the business’ books when there are business assets involved in a divorce.
5) Business expenses are fabricated. Creating and paying phony bills is another tactic used by some unscrupulous business owners during a divorce. To make the business appear less profitable, this can have the effect of sheltering assets. When a divorcing spouse uses business assets to pay their personal expenses but records those payments as business expenditures is a similar type of financial fraud that occurs.
6) Cash withdrawals. In the months leading to a divorce, a spouse intent on hiding assets in a divorce may also make cash withdrawals from individual or joint bank or brokerage accounts and divert that cash to a hidden account or converting it into money orders or cashier’s checks. Also, depositing less than the full number of paychecks or other instruments is another less-obvious method of hiding cash.
7) Exhausting assets. By purchasing lavish gifts for others or spending excessive amounts on personal hobbies is also an also attempt to destroy or waste marital assets by divorce spouses.

Private Investigator & Security Services in Greater Miami, Sunny Isles, Fort Lauderdale, Boca Raton & Miami Gardens Florida

You may not get your fair share in the divorce settlement if your spouse is successful in his or her attempts to hide assets or overstate debts in your divorce proceedings. When it comes to the divorce, individuals that have the intent to commit fraud are likely going to do what they can to cover their tracks. Having an experienced private investigator can help you be better equipped when navigate your way through the divorce. Call Advanced Private investigator & Security of Miami, FL and let our qualified professionals assist you with your divorce and ensure your soon to be ex-spouse is being fair during the divorce.

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