Can I hide my money or assets in a divorce?

Posted in Blog, Court, Divorce, Guidance, Money and Property | 0 comments

Can I hide my money or assets in a divorce?

Why hiding your assets or income in a divorce is really stupid.

Hiding and not disclosing assets is not only stupid but it is not in your own best interests. Here is why.

What you want to end up with is a final court order or a “consent order” made by the Court in full and final settlement and where there are no comebacks. A clean break consent order dismisses all and any financial claims for money or property or pension or inheritance forever. Logically you do not want to be holding a worthless consent order approved by the court only to live in dread of the letter in the post informing you that the so-called final settlement is being set aside and opened up so a different settlement can made based upon the earlier lack of financial disclosure called non disclosure or mis-disclosure. You will also have the risk of paying more legal fees for yourself and the other side’s additional costs and a fine and/or imprisonment for making false financial disclosure. Some people spend the rest of their lives in dread of their dishonesty during their divorce. You will also have to face the Judge in Court having discredited yourself completely. Hiding and not disclosing assets is not only stupid but it is not in your own best interests.

Open, honest disclosure

Therefore make sure you openly and honestly disclose everything so a full, clear and up to date financial picture can easily be understood. If this is done early and voluntarily then a great deal of costs can be saved. All this is in your best interests.

Contact me on 01223 421051 or email duaneplant@dmfl.co.uk  to discuss issues of how the court are likely to treat different assets such as money or property you had prior to the marriage or inherited property and assets or assets you have acquired since the separation or business assets or bonuses or money or property gifted to you. In these circumstances you need proper advice. The first and best advice is do not be tempted to hide income or assets.

Next steps:

For further advice and guidance on managing disclosure:

Call me: 01223 421 051
or email me duaneplant@dmfl.co.uk

Duane Plant
Divorce Solicitor, Family Mediator and Collaborative Lawyer and trainer
Divorce, Mediation and Family Law

About Duane Plant

Duane is a Cambridge Divorce Solicitor, Family Mediator, Collaborative Lawyer and trainer who is passionate about changing the way families experience divorce and separation. Duane gives constructive advice so you can divorce with dignity. Connect with Duane on Google+

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