Why Hidden Assets Are a Problem When Resolving an Estate

Probate is meant to be a fair and transparent process where an individual’s assets are identified, valued, and distributed according to a Will or Florida’s intestacy laws. Unfortunately, not all estates are handled honestly. Sometimes, heirs or Personal Representatives conceal or misreport estate property, either to reduce what others receive or to benefit themselves. This can constitute fraud, and it can significantly impact rightful beneficiaries.

When assets are intentionally concealed, whether through cash accounts, real estate, valuable collectibles, or even business interests, the entire probate process is undermined. Florida law requires a complete and accurate inventory of the decedent’s property. If assets are missing from this inventory, beneficiaries may receive less than they are entitled to. Talk to a Pompano Beach estate litigation lawyer to be sure the true wishes of the deceased are honored.

Working Toward Full Transparency

In one notable Florida case, a personal representative failed to disclose a valuable oceanfront property that was in the decedent’s name but had been quietly transferred to a family LLC before death. The transfer appeared legitimate on paper, but a deeper investigation revealed it was done solely to remove it from the probate inventory. After litigation, the court ruled that the property should be brought back into the estate, ensuring all beneficiaries received their rightful shares.

Anytime there are incomplete financial disclosures, suspicious transfers, or underreported valuations, the figures need to be reviewed. Messy or confusing numbers need to be addressed.

If you are in a situation where you believe assets are misreported or concealed, explore techniques for bringing these discrepancies to light.

• Examine bank statements, credit card records, and tax returns to identify hidden income or property.
• Look up real estate deeds, vehicle registrations, and corporate filings.
• Explore subpoenas and discovery. In probate litigation, your attorney can compel individuals to produce documents and answer questions under oath.
• Hire specialists, such as forensic accountants, who know how to trace money movement, uncover off-shore accounts, and detect irregularities.
• Speak with financial advisors, business partners, or close associates who may know about concealed assets.

Acting without delay is key. Florida courts can order the recovery of concealed property, remove dishonest personal representatives, and in some cases, impose financial penalties. These outcomes require strong evidence and strategic legal action.

Preserving the Integrity of the Process

An experienced Pompano Beach estate litigation lawyer can investigate suspicious circumstances, file the necessary legal actions to recover property, and protect your inheritance rights. Legal professionals have the skills to advocate for you and your rights aggressively.

Uncovering hidden assets is not just about the money, it’s about honoring the legacy of the person who has passed away. With the right legal guidance, you can ensure transparency and fairness prevail.

Were you told that you would be inheriting a certain level of wealth but the estate executor says the value of the estate is far lower? Legal professionals are available to look into your concerns, have a conversation with the estate attorneys at Mark R. Manceri, P.A. Schedule a confidential consultation today.