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When your spouse hides assets from the divorce proceedings

On Behalf of | Feb 24, 2022 | Divorce

Property division during divorce is not always fair. In some cases, your ex-spouses may hide some marital assets to benefit themselves financially. It mostly happens when the divorce is acrimonious, and they feel like getting one over you will make them feel better.

Therefore, you should be wary of hidden assets since you will end up with a lesser share than what you deserved from the marital estate. Failing to disclose all marital assets is akin to stealing from you.

Do you have evidence of the hidden assets?

The truth is that there are countless ways to hide assets, and some may require a trained eye to point out. To protect your interests, you need to conduct due diligence on your marital estate. Were there assets that changed hands in the days or months leading to the divorce? Did your ex-spouse create a trust to separate assets from the marital estate?

Most of your work is done once you have evidence of the hidden assets, such as financial records or witness testimony. The rest lies in bringing it to the court’s attention.

What happens next?

Hiding assets is not taken lightly in family court. This is because it overrides the interests of justice regarding property division following a divorce. If your ex-spouse is found to have hidden assets, the ownership of the said assets may be transferred to you.

Additionally, legal action may be taken against them for lying under oath or contempt of court. They could also be ordered to pay the legal costs involved and compensate you for any expenses incurred to uncover their discretion. What matters is that you get your fair share of the marital estate.