How Husbands or Wives Hide Money In Divorce

by Robin Roshkind, Esquire, West Palm Beach, Florida

There is an expression and it goes like this:  “He who has the gold, makes the golden rule.”  In most marriages it is STILL  the husband who makes the most money.  That is slowly changing, but as a generalization, it still holds true. Women take time off from careers to raise children or support their husbands through higher education, snf find they are at a disadvantage when it comes to re entering the job market.   It still is a rarity if it happens the other way around where husbands do that for wives.  But in any case, where one spouse has significantly more income, or even an inheritance, that is the spouse that may try to defraud the other spouse in divorce court.

There are many ways spouses hide money.  Below are just a few:

1.  You just don’t tell your spouse about bonuses or increased commissions, and defer them until after the divorce.

2.  You make voluntary contributions to retirement plans, or pay for health insurance and other things up front and in advance.

3.  Hire new employees that don’t really exist, or hire your girlfriend/boyfriend so payments to her/him look legitimate.

4.  Don’t have bank statements or credit card bills come in the mail.  Everything is on the computer and secretive.

5.  Go fishing a lot off shore, all the while visiting a foreign bank.

6.  Go shopping a lot, and return what you have purchased for cash.

7.  Share bank accounts with your parents or adult children so it looks like their money.   

8.  If your spouse runs a cash business or a closely held corporation, it will be very difficult to prove anything. 

These are the types of behaviors that keep forensic accountants and private investigators and computer hackers in business.  If you are going through a divorce and suspect fraud, hire these experts if you really want to know the truth.  For more information about this or other divorce topics, call one of the divorce lawyers at ROBIN ROSHKIND, P.A. at 561 835 9091 or click on the Firm’s web site at www.familylawwpb.com for more information.

When a forensic accountant is necessary in a divorce.

By Robin Roshkind, Esquire, West Palm Beach, Florida

In some cases, divorce lawyers insist that our clients retain the services of a forensic accountant.  This accountant can help with putting forth your case when financial relief is sought in your divorce, whether it is alimony, attorneys fees or in equitable distribution of assets and debts of the marriage.

The job of a forensic accountant is to trace the flow on monies.

It is especially important to retain an accountant under the following conditions:

1.  When the major breadwinning spouse is self employed.

2.  When the major breadwinning spouse is the sole officer of a closely held Florida corporation.

3.  When the major breadwinner works for cash such as a landscaper or artist.

4.  When the major breadwinner is a sole proprietor.

5.  When the major breadwinner is a solo practitioner, either in medicine, legal services or the like.

6.  When there are equities and securities and many parcels of real estate to divide between the spouses.

7.  When rents are collected.

6.  Where appraisals are necessary, including investment quality artwork, diamonds, stamp collections and the like.

7.  Where equal value assets have unequal value tax ramifications.

So don’t be annoyed at your divorce lawyer when he or she asks that you retain the services of a forensic accountant.  It is usually for your protection.  For more information about this divorce topic or others, call one of the attorneys at ROBIN ROSHKIND, P.A.  at 561-835-9091 or click on the Firm’s web site at http://www.familylawwpb.com.