Know what Divorce Lawyers will Look for when Examining Financial Disclosure. For more info contact Miami Family Law Attorney from DADvocacy™ Law Firm today!
- It is critical to regularly review beneficiary designations for registered accounts and life insurance policies to ensure they match your current intentions, as situations like divorce and remarriage can cause outdated designations.
- Without proper beneficiary designations, assets may have to pass through probate instead of going directly to intended beneficiaries, causing delays and potential fees.
- Doctors should consider incorporating or using holding companies to potentially defer more tax through structures utilizing insurance policies and loans.
A personal, no asset bankruptcy is known as Chapter 7. For this type of bankruptcy, our clients keep all of the assets they want to
keep (home if it qualifies, motor vehicle, personal property, clothing, etc.) and discharge all their consumer debts. We will work with you to determine that all of your assets are kept protected from the creditors.
This document provides information on various consumer issues that are important for seniors and caregivers to be aware of, including saving important paperwork, credit issues, debt collection, medical debt, debt relief services, bankruptcy, co-signing loans, payday loans, and ambulance bills. It discusses key rights and protections under laws like the Fair Credit Reporting Act, Fair Debt Collection Practices Act, and issues to consider when dealing with debts, creditors, and collection agencies.
The document provides an overview of key financial considerations during and after divorce, including types of child and spousal support, dividing marital property such as homes and retirement accounts, health insurance, and social security benefits. It outlines steps individuals should take to establish financial independence and negotiate settlements, such as gathering financial documents, opening new bank accounts, and updating beneficiaries. Post-divorce, individuals need to finalize estate planning, choose investment strategies, and determine the impact on taxes and social security.
The document discusses credit files and how they can impact loan applications. It explains that credit files contain an individual's credit history and payment records, which lenders use to determine loan risk. The files include details like addresses, debts, defaults, and bankruptcies. Negative information generally stays on record for 5-7 years. Individuals can obtain free copies of their credit file from the credit agency to check for errors and dispute inaccurate information to improve their chances of loan approval.
This document discusses financial options for helping parents manage their money if they develop Alzheimer's or other conditions limiting their competence. It describes obtaining a power of attorney to assist with bills and decisions currently, or pursuing conservatorship through probate court if parents can no longer make financial decisions. The document provides details on the processes, differences between options, and alternatives like hiring daily money managers if children do not want the responsibility. It stresses the importance of obtaining proper legal documentation and avoiding scams targeting the elderly.
This document provides information about credit, credit reports, credit scores, and maintaining good credit. It defines credit and explains how credit reports and FICO credit scores are calculated. Key factors that influence credit scores are payment history, amount of debt, credit history length, recent credit applications, and credit mix. The document advises paying bills on time, keeping balances low, and carefully managing credit accounts to maintain good credit over time.
- It is critical to regularly review beneficiary designations for registered accounts and life insurance policies to ensure they match your current intentions, as situations like divorce and remarriage can cause outdated designations.
- Without proper beneficiary designations, assets may have to pass through probate instead of going directly to intended beneficiaries, causing delays and potential fees.
- Doctors should consider incorporating or using holding companies to potentially defer more tax through structures utilizing insurance policies and loans.
A personal, no asset bankruptcy is known as Chapter 7. For this type of bankruptcy, our clients keep all of the assets they want to
keep (home if it qualifies, motor vehicle, personal property, clothing, etc.) and discharge all their consumer debts. We will work with you to determine that all of your assets are kept protected from the creditors.
This document provides information on various consumer issues that are important for seniors and caregivers to be aware of, including saving important paperwork, credit issues, debt collection, medical debt, debt relief services, bankruptcy, co-signing loans, payday loans, and ambulance bills. It discusses key rights and protections under laws like the Fair Credit Reporting Act, Fair Debt Collection Practices Act, and issues to consider when dealing with debts, creditors, and collection agencies.
The document provides an overview of key financial considerations during and after divorce, including types of child and spousal support, dividing marital property such as homes and retirement accounts, health insurance, and social security benefits. It outlines steps individuals should take to establish financial independence and negotiate settlements, such as gathering financial documents, opening new bank accounts, and updating beneficiaries. Post-divorce, individuals need to finalize estate planning, choose investment strategies, and determine the impact on taxes and social security.
The document discusses credit files and how they can impact loan applications. It explains that credit files contain an individual's credit history and payment records, which lenders use to determine loan risk. The files include details like addresses, debts, defaults, and bankruptcies. Negative information generally stays on record for 5-7 years. Individuals can obtain free copies of their credit file from the credit agency to check for errors and dispute inaccurate information to improve their chances of loan approval.
This document discusses financial options for helping parents manage their money if they develop Alzheimer's or other conditions limiting their competence. It describes obtaining a power of attorney to assist with bills and decisions currently, or pursuing conservatorship through probate court if parents can no longer make financial decisions. The document provides details on the processes, differences between options, and alternatives like hiring daily money managers if children do not want the responsibility. It stresses the importance of obtaining proper legal documentation and avoiding scams targeting the elderly.
This document provides information about credit, credit reports, credit scores, and maintaining good credit. It defines credit and explains how credit reports and FICO credit scores are calculated. Key factors that influence credit scores are payment history, amount of debt, credit history length, recent credit applications, and credit mix. The document advises paying bills on time, keeping balances low, and carefully managing credit accounts to maintain good credit over time.
This document provides information about credit, credit reports, credit scores, and maintaining good credit. It defines credit and explains how credit reports and FICO credit scores are calculated. Key factors that influence credit scores are payment history, amount of debt, credit history length, recent credit applications, and credit mix. The document advises paying bills on time, keeping balances low, and carefully managing credit applications and accounts to maintain good credit over time.
Business credit accounts for a business’s ability to pay back its debts, not the owner’s. It is not subject to the Fair Credit Reporting Act and creditors consider your business credit scores and and payment history
The document provides information on setting financial goals and maintaining good financial habits such as organizing financial records, monitoring debt-to-income ratios, understanding credit reports and credit scores, and repairing credit. It emphasizes the importance of writing down goals, tracking spending, paying bills on time, and disputing any incorrect information on credit reports to achieve financial stability and qualify for loans and credit cards.
An identity thief may have accessed and used a victim's personal or financial information without permission. The guide outlines immediate steps the victim should take, such as placing a fraud alert on their credit report and ordering copies of their credit reports from the three major credit bureaus. It also provides guidance on next steps like reviewing credit reports for errors, disputing inaccuracies directly with the credit bureaus and affected businesses, and filing an identity theft report with the FTC and local law enforcement. Long-term steps include considering a credit freeze and extended fraud alert to further protect the victim's identity and credit standing. The guide offers worksheets, sample letters, and contact information to help victims methodically recover from identity theft.
How to Obtain Your Credit File and Repair Your Credit ProblemsWhichdeal Limited
By visiting http://www.creditplus.co.uk you can get more information on the issues discussed in this credit repair guide, including a free tool to check your credit rating.
This easy to follow guide walks you through the process of understanding and repairing your credit rating, it is meant for use in the UK.
This newsletter from Cedar Point Financial Services discusses several financial topics:
- Health savings accounts can be a powerful savings tool for both working years and retirement due to tax benefits on contributions and withdrawals for medical expenses. Funds can be invested and rolled over year to year.
- Common tax scams to watch out for include phishing emails and phone scams posing as the IRS, tax preparer fraud, and fake charities. It's important to be vigilant and choose tax preparers carefully.
- Talking to teens about money can help establish healthy financial habits. Parents should discuss handling income, building budgets, setting savings goals, and becoming smart shoppers. Introducing credit responsibly can also help teens establish
Peer-to-peer (P2P) lending allows individuals and small businesses to obtain loans funded by other individuals through online lending platforms. Borrowers request loans which are then funded by multiple lenders who purchase promissory notes. P2P lending has grown as a source of funding for borrowers who may have difficulty obtaining loans from traditional banks. However, P2P loans also carry higher risks for lenders since the loans are unsecured, borrower financials may not be thoroughly verified, and default rates can be high. P2P lending platforms and loans may be regulated by the SEC, state securities regulators, and banking regulators depending on the structure of the platform and loans.
(1) The document is a general forbearance request form for the William D. Ford Federal Direct Loan Program that allows borrowers experiencing temporary financial hardship to request suspending or reducing loan payments.
(2) The borrower identifies their hardship as financial difficulties and requests temporarily stopping payments for a period between specified dates not exceeding 12 months.
(3) By signing, the borrower certifies the accuracy of the request, agrees to provide additional documentation, and understands that interest will accrue and potentially be capitalized during the forbearance period.
This document provides a guide to understanding credit reports and maintaining a healthy credit score. It discusses the key components of a credit report including personal information, credit accounts, inquiries, and public records. It then outlines factors that affect credit scores such as payment history, credit utilization, length of credit history, and types of credit. The document concludes by providing tips for keeping credit in good standing such as paying bills on time, negotiating delinquencies, and using MyFico.com to monitor credit scores.
Understanding Your Credit Report and ScoreSpringboard
Information about what’s on a credit report, how it gets there, how a credit score is calculated, and how to develop good financial habits. Understanding credit and knowing where you stand are vital to protecting yourself from predatory lending by unqualified or unscrupulous lenders offering costly or unstable loan products.
This document discusses financial literacy and debt from a Christian perspective. It warns that families can be destroyed by a lack of financial knowledge and debt. It provides tips for managing credit cards responsibly, such as only charging what you can pay off monthly to avoid interest, fees, and damage to your credit score. It also cautions against refinancing credit card or other unsecured debt onto your home, as this exposes your otherwise protected home equity to creditors.
This document provides advice to protect one's identity and finances during and after a divorce. It recommends securing personal records and digital assets, monitoring credit, notifying credit bureaus of fraud alerts, protecting access to financial accounts/insurance policies, and using caution on social media regarding the divorce to avoid issues in court. Overall, the document stresses being prepared, securing important documents and accounts, and consulting legal advice when going through divorce proceedings.
This document summarizes legal ethics issues for lawyers in a changing profession. It discusses trends affecting law firms like changing firm structures, challenges with marketing and funding, and diversity issues. It also outlines new ABA Model Rule 8.4(g) regarding harassment and discrimination. The document discusses lawyers' role as gatekeepers regarding money laundering. It provides guidance on handling client funds and trust accounts, storing client information, and practicing across state lines. The presentation emphasizes that technological changes require proactive steps to maintain confidentiality and security online.
The document discusses issues to consider when going through a "Gray Divorce", or divorce after age 50. It outlines tips for avoiding tax penalties when splitting retirement assets, such as using a Qualified Domestic Relations Order (QDRO) to transfer retirement funds between spouses. It also discusses deciding who gets the family home and the option of a reverse mortgage to potentially keep the home. Health insurance gaps and collaborative divorce methods are also mentioned as important considerations for older couples navigating divorce.
Getting Audited With Student Loan - How To Prevet That From Happeningpdmacahoe
Student loan applications are subject to audit where supporting documents are required to verify the accuracy of the application. Failure to provide requested documents within the required time frame could result in loan revocation or criminal prosecution. It is important for students to keep records of all documents submitted as part of the application in case of an audit.
company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
All product and company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
This document summarizes the key terms and conditions for deposit accounts at State Bank of India's New York branch. It outlines the process for establishing different types of accounts, including individual, joint, minor, corporate and partnership accounts. It provides details on required documentation, authorized signatories, account operations and applicable fees. The document is intended to help customers understand account options, terms and bank policies and procedures.
United Credit Education Services reveals the 10 myths about credit and the credit reporting agencies. Credit Restoration is legal thats why we have the Credit Repair Organization Act.
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
Building Your Employer Brand with Social MediaLuanWise
Presented at The Global HR Summit, 6th June 2024
In this keynote, Luan Wise will provide invaluable insights to elevate your employer brand on social media platforms including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok. You'll learn how compelling content can authentically showcase your company culture, values, and employee experiences to support your talent acquisition and retention objectives. Additionally, you'll understand the power of employee advocacy to amplify reach and engagement – helping to position your organization as an employer of choice in today's competitive talent landscape.
More Related Content
Similar to What Divorce Lawyers Look for When Examining Financial Disclosure.pdf
This document provides information about credit, credit reports, credit scores, and maintaining good credit. It defines credit and explains how credit reports and FICO credit scores are calculated. Key factors that influence credit scores are payment history, amount of debt, credit history length, recent credit applications, and credit mix. The document advises paying bills on time, keeping balances low, and carefully managing credit applications and accounts to maintain good credit over time.
Business credit accounts for a business’s ability to pay back its debts, not the owner’s. It is not subject to the Fair Credit Reporting Act and creditors consider your business credit scores and and payment history
The document provides information on setting financial goals and maintaining good financial habits such as organizing financial records, monitoring debt-to-income ratios, understanding credit reports and credit scores, and repairing credit. It emphasizes the importance of writing down goals, tracking spending, paying bills on time, and disputing any incorrect information on credit reports to achieve financial stability and qualify for loans and credit cards.
An identity thief may have accessed and used a victim's personal or financial information without permission. The guide outlines immediate steps the victim should take, such as placing a fraud alert on their credit report and ordering copies of their credit reports from the three major credit bureaus. It also provides guidance on next steps like reviewing credit reports for errors, disputing inaccuracies directly with the credit bureaus and affected businesses, and filing an identity theft report with the FTC and local law enforcement. Long-term steps include considering a credit freeze and extended fraud alert to further protect the victim's identity and credit standing. The guide offers worksheets, sample letters, and contact information to help victims methodically recover from identity theft.
How to Obtain Your Credit File and Repair Your Credit ProblemsWhichdeal Limited
By visiting http://www.creditplus.co.uk you can get more information on the issues discussed in this credit repair guide, including a free tool to check your credit rating.
This easy to follow guide walks you through the process of understanding and repairing your credit rating, it is meant for use in the UK.
This newsletter from Cedar Point Financial Services discusses several financial topics:
- Health savings accounts can be a powerful savings tool for both working years and retirement due to tax benefits on contributions and withdrawals for medical expenses. Funds can be invested and rolled over year to year.
- Common tax scams to watch out for include phishing emails and phone scams posing as the IRS, tax preparer fraud, and fake charities. It's important to be vigilant and choose tax preparers carefully.
- Talking to teens about money can help establish healthy financial habits. Parents should discuss handling income, building budgets, setting savings goals, and becoming smart shoppers. Introducing credit responsibly can also help teens establish
Peer-to-peer (P2P) lending allows individuals and small businesses to obtain loans funded by other individuals through online lending platforms. Borrowers request loans which are then funded by multiple lenders who purchase promissory notes. P2P lending has grown as a source of funding for borrowers who may have difficulty obtaining loans from traditional banks. However, P2P loans also carry higher risks for lenders since the loans are unsecured, borrower financials may not be thoroughly verified, and default rates can be high. P2P lending platforms and loans may be regulated by the SEC, state securities regulators, and banking regulators depending on the structure of the platform and loans.
(1) The document is a general forbearance request form for the William D. Ford Federal Direct Loan Program that allows borrowers experiencing temporary financial hardship to request suspending or reducing loan payments.
(2) The borrower identifies their hardship as financial difficulties and requests temporarily stopping payments for a period between specified dates not exceeding 12 months.
(3) By signing, the borrower certifies the accuracy of the request, agrees to provide additional documentation, and understands that interest will accrue and potentially be capitalized during the forbearance period.
This document provides a guide to understanding credit reports and maintaining a healthy credit score. It discusses the key components of a credit report including personal information, credit accounts, inquiries, and public records. It then outlines factors that affect credit scores such as payment history, credit utilization, length of credit history, and types of credit. The document concludes by providing tips for keeping credit in good standing such as paying bills on time, negotiating delinquencies, and using MyFico.com to monitor credit scores.
Understanding Your Credit Report and ScoreSpringboard
Information about what’s on a credit report, how it gets there, how a credit score is calculated, and how to develop good financial habits. Understanding credit and knowing where you stand are vital to protecting yourself from predatory lending by unqualified or unscrupulous lenders offering costly or unstable loan products.
This document discusses financial literacy and debt from a Christian perspective. It warns that families can be destroyed by a lack of financial knowledge and debt. It provides tips for managing credit cards responsibly, such as only charging what you can pay off monthly to avoid interest, fees, and damage to your credit score. It also cautions against refinancing credit card or other unsecured debt onto your home, as this exposes your otherwise protected home equity to creditors.
This document provides advice to protect one's identity and finances during and after a divorce. It recommends securing personal records and digital assets, monitoring credit, notifying credit bureaus of fraud alerts, protecting access to financial accounts/insurance policies, and using caution on social media regarding the divorce to avoid issues in court. Overall, the document stresses being prepared, securing important documents and accounts, and consulting legal advice when going through divorce proceedings.
This document summarizes legal ethics issues for lawyers in a changing profession. It discusses trends affecting law firms like changing firm structures, challenges with marketing and funding, and diversity issues. It also outlines new ABA Model Rule 8.4(g) regarding harassment and discrimination. The document discusses lawyers' role as gatekeepers regarding money laundering. It provides guidance on handling client funds and trust accounts, storing client information, and practicing across state lines. The presentation emphasizes that technological changes require proactive steps to maintain confidentiality and security online.
The document discusses issues to consider when going through a "Gray Divorce", or divorce after age 50. It outlines tips for avoiding tax penalties when splitting retirement assets, such as using a Qualified Domestic Relations Order (QDRO) to transfer retirement funds between spouses. It also discusses deciding who gets the family home and the option of a reverse mortgage to potentially keep the home. Health insurance gaps and collaborative divorce methods are also mentioned as important considerations for older couples navigating divorce.
Getting Audited With Student Loan - How To Prevet That From Happeningpdmacahoe
Student loan applications are subject to audit where supporting documents are required to verify the accuracy of the application. Failure to provide requested documents within the required time frame could result in loan revocation or criminal prosecution. It is important for students to keep records of all documents submitted as part of the application in case of an audit.
company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
All product and company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
This document summarizes the key terms and conditions for deposit accounts at State Bank of India's New York branch. It outlines the process for establishing different types of accounts, including individual, joint, minor, corporate and partnership accounts. It provides details on required documentation, authorized signatories, account operations and applicable fees. The document is intended to help customers understand account options, terms and bank policies and procedures.
United Credit Education Services reveals the 10 myths about credit and the credit reporting agencies. Credit Restoration is legal thats why we have the Credit Repair Organization Act.
Similar to What Divorce Lawyers Look for When Examining Financial Disclosure.pdf (20)
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
Building Your Employer Brand with Social MediaLuanWise
Presented at The Global HR Summit, 6th June 2024
In this keynote, Luan Wise will provide invaluable insights to elevate your employer brand on social media platforms including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok. You'll learn how compelling content can authentically showcase your company culture, values, and employee experiences to support your talent acquisition and retention objectives. Additionally, you'll understand the power of employee advocacy to amplify reach and engagement – helping to position your organization as an employer of choice in today's competitive talent landscape.
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
IMPACT Silver is a pure silver zinc producer with over $260 million in revenue since 2008 and a large 100% owned 210km Mexico land package - 2024 catalysts includes new 14% grade zinc Plomosas mine and 20,000m of fully funded exploration drilling.
Part 2 Deep Dive: Navigating the 2024 Slowdownjeffkluth1
Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
Taurus Zodiac Sign: Unveiling the Traits, Dates, and Horoscope Insights of th...my Pandit
Dive into the steadfast world of the Taurus Zodiac Sign. Discover the grounded, stable, and logical nature of Taurus individuals, and explore their key personality traits, important dates, and horoscope insights. Learn how the determination and patience of the Taurus sign make them the rock-steady achievers and anchors of the zodiac.
Structural Design Process: Step-by-Step Guide for BuildingsChandresh Chudasama
The structural design process is explained: Follow our step-by-step guide to understand building design intricacies and ensure structural integrity. Learn how to build wonderful buildings with the help of our detailed information. Learn how to create structures with durability and reliability and also gain insights on ways of managing structures.
Zodiac Signs and Food Preferences_ What Your Sign Says About Your Tastemy Pandit
Know what your zodiac sign says about your taste in food! Explore how the 12 zodiac signs influence your culinary preferences with insights from MyPandit. Dive into astrology and flavors!
Recruiting in the Digital Age: A Social Media MasterclassLuanWise
In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
Discover timeless style with the 2022 Vintage Roman Numerals Men's Ring. Crafted from premium stainless steel, this 6mm wide ring embodies elegance and durability. Perfect as a gift, it seamlessly blends classic Roman numeral detailing with modern sophistication, making it an ideal accessory for any occasion.
https://rb.gy/usj1a2
What Divorce Lawyers Look for When Examining Financial Disclosure.pdf
1. What Divorce Lawyers Look for When
Examining Financial Disclosure
You have decided to proceed with a divorce. Now you are facing determinations about
alimony and child support, which are governed by the Florida Family Law Rules of Procedure,
specifically Rule 12.285’s Mandatory Disclosure requirement.
Through Mandatory Disclosure, both sides must produce various financial and other
documents for the court’s review, including but not limited to tax returns, checking account
statements, and pay stubs. We submit our client’s documents to the other side, and we
receive the same types of documents from the opposition in exchange.
This documentary exchange allows both sides to substantiate claims about their respective
financial situations and to ascertain each side’s resources as the court proceeds with
determining alimony and child support. Do people try to hide assets? You bet, but that kind
of game-playing is ill-advised: when a party tries to hide assets, there is usually an evidentiary
trail, whether digital or paper.
In the discovery process, lawyers review our client’s documents and those presented by
opposing counsel. We search for oddities in the usual banking and credit card statements, but
we also look at other means of hiding income or assets, such as the following:
1. Safety deposit boxes and safes can be used to hide assets. We can use interrogatories
to make the party account for the use of a safety deposit box under oath. Whether
the safety deposit box or safe is commercial, private or held under a business name,
we can still compel disclosure via the interrogatory.
2. 2. Overpayments can be suspicious, especially to entities that issue refunds, such as
health insurers, tax authorities, credit cards and others.
3. Bank accounts can be used to send money to Paypal, Venmo and other digital pay
platforms, for which we can ask for statements. Statements from those platforms may
show payments to other platforms, such as those for trading stock and virtual currency
– another income source.
4. Money or property that is declared as a gift from family and friends can be suspect.
Likewise, money being transferred to family and friends as “gifts” spur the same
concerns, as do newly created trusts.
5. Nothing stops either party from examining the social media of the other party. Posts
on Facebook or Instagram may indicate spending or assets not otherwise disclosed.
6. A credit report can show debt attached to a property or a credit card that the other
spouse never knew about, which in turn can indicate other assets or sums in accounts
that were never disclosed.
7. If there is a decrease in regular pay, a delay in new business deals, or the odd omission
of the usual commissions, expected reimbursements or bonuses, the spouse may be
asking the employer or client to delay payment or to direct payment to a different
bank account until after the divorce settlement. While we usually ask for the last 6
months of pay stubs under Rule 12.285, depositions and interrogatories may be used
to ask for older pay stubs.
8. Business owners’ ledgers may require closer scrutiny if money is being funneled into
projects that don’t actually require it (or even exist) so that the money will be put back
into the party’s bank account after the divorce. Likewise, business owners may delay
debt collection and/or invoicing using the same strategy.
9. Tax returns list bank accounts for direct deposits of tax refunds. We check if that bank
account was never otherwise disclosed.
10. Courts and opposing counsel can and will catch onto fake loans from family or friends
that parties use to conceal their own money. Similarly, documented loans will get
attention too: for example, we question when there is a loan deposit from the
Paycheck Protection Program or some other business-related loan, yet the party has
not declared any business that the loan is financing.
These red flags are not exhaustive. These areas are a solid start, but other concerns may apply
to your specific situation. Further review can help you to understand what those areas may
be.
For more information on red flags that tend to appear in banking and credit card statements,
please see our blog post, “Top 10 banking red flags in discovery”. For a free consultation,
please complete this form (https://dadvocacy.com/intake-form/).
Warning: All posts on this website and its partner website, JustPrenups.com, contain general
information about legal matters for broad educational purposes only. This information is not
legal advice, and should not be treated as such. This blog post does not create any attorney-
client relationship between the reader and the DADvocacy™ Law Firm or between the reader
and JustPrenups.com.