December 13, 2020
When going through a divorce, the parties will need to divide their assets and liabilities. After all, they will need to resolve child custody, child support, parenting roles, and property division, among other things. While the other aspects are heavily based on their role as parents and their relationship with their children, property distribution is different! Distribution of assets and liabilities can be complicated to argue about.
For a couple starting over, the division of property is a crucial way to start life again. But what will you do if your spouse is trying to hide assets from the court? This article will help you understand more about your case.
What Happens When an Asset is Hidden
Trying to conceal an asset from the law has serious consequences. In the eyes of the court, it is seen as a fraudulent act.
- When Your Spouse Lies Under Oath
Your spouse who lied under oath may be subjected to penalties from the court or even criminal charges, depending on the severity of the case. Either way, if assets are concealed the guilty spouse needs to pay back for what they did, particularly if the concealment is done intentionally!
- When the Lie Gets Discovered and Proven
If the hidden asset gets discovered and proven in court, the proving party will have the right to whatever is at stake. The court will even grant them the expenses and attorney’s fees they spent to verify the committed deception.
- When You are Unaware of the Hidden Assets at First
There are scenarios where a spouse only learns about their partner’s hidden asset until the divorce is finalized. If you find yourself in this situation, here are the things you can do:
- Check your settlement agreement. If you find a statement that says you both made an honest and full disclosure of all your assets and signed it, then you have a fighting chance. You can use it to reopen your divorce case and pursue a fair settlement.
- If the divorce judgment is not yet finalized, you can also raise the issue to the court. The judge may ask for another division of assets based on your proven facts.
How to Prove That Your Spouse Has Hidden Assets
Evidence is crucial for any case. You will have more advantage if you can prove to the court that your claim is valid. Here is how you can prove that your spouse is hiding an asset from everyone:
- Consult with your divorce lawyer! They are the best person to tell you what types of documents or evidence you will need to prove your claim. They can also help you request records that you do not have personal access to, such as bank statements, tax returns, pension plan documents, and other such documents.
- In case you have access to any of your spouse’s documents, you need to make copies of them and hand them over to your lawyer.
- If situations get trickier and gathering documented proof is out of the question, then your lawyer can challenge your spouse extensively under oath. Your attorney can also request documents directly from your spouse during this interrogation process. Your attorney can conduct other discovery including subpoenaing records.
Conclusion
It is best to alert your divorce lawyer as soon as you suspect that your spouse is hiding any assets from you. Your lawyer can help you deal with it as early as possible. Doing so will leave you with fewer expenses and less time wasted during the whole divorce process.
If you need a firm that offers family law advice in Jacksonville, The Dorsey Law Firm will be glad to assist you. Our services include all family law matters, whether you’re looking at a divorce, dissolution of marriage, property division, child custody, or domestic violence injunctions, among other things. Call us today to learn how we can help your case!
