MIAMI, Florida. If you are getting divorced and your ex is suddenly claiming poverty despite having considerable wealth, you may be facing a contentious court battle. Lawyers who work with high net worth individuals to help them get the best possible divorce settlement under the law. When a wealthy ex is determined to hide assets or restructures his or her income to make it appear that he or she doesn’t make as much money, then the spouse without the same level of resources often struggles. You may need to hire a forensic accountant to look over your family’s finances and income streams to help you unearth hidden assets.
What compounds the situation is that many individuals engage in what is known as financial infidelity. In a case of financial infidelity, a partner might lie about his or her true income, might lie about his or her assets, and may spend money in secret. In some cases, a partner opens a secret credit card and racks up hidden debt. According to CNBC, 31% of people consider financial infidelity as being worse than physical infidelity. If you are getting divorced, what are some signs of financial infidelity?
One of the signs of financial infidelity is if your partner suddenly changes his or her spending habits, starts buying you gifts, or suddenly and unexpectedly asks you to sell your home or sell off your assets without a clear explanation why. If you believe your ex might be engaging in financial infidelity, you’ll need to prove it in court in order to have the money factored into your divorce settlement. Fortunately, most financial transactions leave a paper trail, making it fairly easy for divorce attorneys to trace where money is being spent and why. Money spent on a mistress or on an affair can have an impact on your divorce settlement, for example.
There are also different degrees of financial infidelity. An occasional purchase here and there that never gets discussed is far less serious than a partner who opens a completely hidden line of credit or makes a major investment without consulting their partner. According to NBC News, some partners might be fuzzy with their spouses about how much money they make, or they may make small white lies about how much that new pair of shoes really cost. Yet, even small lies like this, if they become a habit, can add up and create strain in a marriage. Open communication about money is just as important as communication about other issues.
If you are filing for divorce and have reason to believe that your ex may have committed financial infidelity or may be hiding assets, consider reaching out to a qualified divorce lawyer today. USAttorneys.com works with individuals, helping them reach the best possible financial settlement in their divorce.