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EFFECTIVE LEGAL GUIDANCE FOR FAMILIES AND BUSINESSES

Post-decree modifications can be a response to hidden assets

| Sep 25, 2019 | Family Law |

After you go through a divorce, you may think that the worst is over. You don’t believe that there is anything else that you’d change, and you feel confident that everything was done by the book.

Later, you find out that your ex-spouse hid assets during the divorce. As a result, you believe that you should be entitled to some of them. What should you do?

If your ex-spouse hid assets during a divorce, reach out to your attorney right away

There are consequences for hiding assets during a divorce. Legally, all couples are obligated to disclose their assets, including debts, expenses and income, to the court. Some people lie or try to hide assets to keep more for themselves, but that can certainly come back to haunt them later on.

Lying during a divorce is illegal. Signing documents with false information can lead to penalties due to perjury. Lying under oath usually leads to steep consequences, with penalties ranging from fines or fees to incarceration.

If your ex-spouse hid assets, then it is important to reach out to your attorney right away. Your attorney may be able to help you petition the court for a modification to your divorce decree so that you can obtain more of the assets that you were entitled to during your divorce. Depending on the situation, your ex-spouse may face significant penalties for failing to disclose those assets, which is something to consider carefully. There is a chance that you could settle the dispute outside court if you wish, but it’s smart to contact your attorney first.