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What happens if you try to conceal assets in your divorce?

On Behalf of | May 19, 2023 | Divorce |

If you feel a court might have a different opinion from you of what is fair concerning property division in your divorce, you may consider getting one step ahead.

Yet, hiding assets is to be avoided at all costs because it could cost you much more than you think. When you declare your assets in a divorce, you need to list everything, not just the things your spouse already knows about, or the things you think your spouse already knows about.

All will be taken into consideration to reach a decision on the property division

If anything is missing, and your spouse finds out and tells the court, you could end up worse off than if you had just declared everything to begin with. Courts do not like being lied to, and failing to report all assets is doing just that. Hence they may punish you by giving all or a greater share of the particular asset you hid to your spouse.  

The best way to get a fair outcome when dividing your marital assets is to take legal help to set out your case for why you should get a particular share, or keep particular assets.

Remember, you don’t have to rely on a court to make the decisions for you. You can negotiate with your spouse so that they keep the things they are particularly fond of while you keep the ones you are particularly fond of. It’s about looking at the overall total as much as looking at individual items, and outside help can be crucial to gaining perspective.