When it comes to getting a divorce in Florida, money always comes into play when dealing with alimony, assets and especially child support. Many people are taking the necessary steps to prepare for their future in the event of a divorce. They are opening a separate account and hiding it from their spouse. Depending on when and how the account was actually created, it might end up becoming an area of contention when it comes to dividing all of the assets in a divorce.

Many people end up entering into marriage with their own assets. In these instances, keeping a separate account for the purpose of keeping all of the premarital assets separate isn’t going to come into play. You don’t have to worry about keeping that extra account a secret from your significant other. Prenuptial agreements can be written up to include these accounts to make sure they aren’t going to become an issue if a divorce ends up happening somewhere down the line. Also, it might be smart for both parties to become aware of the current financial situation and the amount of assets that the couple has acquired since being married.

For other couples, the decision to go out and get another account doesn’t come until there are talks about divorce. Even though this might be a wise move for some, it could be quite risky as well. Once divorce proceedings are underway, both parties have to complete a financial affidavit that outlines all of their assets. Not reporting an account could end up ruining your credibility with the courts, leading to accusations of you trying to hide assets and might be considered part of the marital estate. It all depends on how the account was funded throughout the duration of the marriage.

Everyone has to make their own decision in terms of whether to keep a separate account a secret from their spouse or not. Consider all of the potential ramifications to your decision if you were to end up going through a divorce before you actually make the decision. By having knowledge of your financial situation, you won’t have to worry about having any surprises later on down the line. Being informed beforehand, can make it far easier to determine whether the other party has actually disclosed all of their assets or not. You do not want to be shorted on something that you were entitled to

For more information about your Jacksonville Divorce, Contact Copeland Family Law.