November 13

Do You Suspect Your Ex is Hiding Assets?

It’s never nice knowing that someone is hiding something from you. It’s an issue brought into courthouses all over; someone knows something they’re not telling. This is an especially familiar situation when it comes to divorce proceedings. Is there anything a person can do if they know their ex is hiding assets? What is the procedure to get them to unveil them (if there’s one)? Or is a lost cause if they keep concealing their wages and debts?

First and foremost, it should be said that withholding information or being dishonest when it comes to financial disclosures is illegal. But some ex-husbands or wives want to make sure they keep a secret stash or source of money secret in hopes of not having to share it with said ex. Punishment for this type of action is all up to the jurisdiction and can result in fees and various fines to be paid or even jail time for contempt of court or even perjury. Along with this sort of sentence, if the ex in question is found guilty of hiding financial information, they may be ordered to pay the court costs and lawyer fees for the other party.

In some more severe cases, if an ex is found guilty of withholding this financial information, a judge can dismiss the claims of the ex entirely. Although this may be extreme, there have been quite a few cases in where the judge ordered the other party to obtain all the assets instead of splitting them. All because of a lie, so is it worth it?

If you suspect an ex of withholding assets from you, it may be time to contact an attorney to get everything done the right and legal way.