mail phone icon615-791-8511

Consequences of Hiding Assets during a Divorce

Experienced Brentwood divorce lawyer helps you protect your assets without risking penalties

According to a survey from the National Endowment for Financial Education, about one-third of adults who combined assets with their spouse admitted that they lied about money or other assets. Nearly three out of five said they hid cash from their partner, about 30 percent hid a bill or financial statement from their partner, and 34 percent said they had lied about their income, their debts, or other aspects of their finances.

Not only is lying about finances during a divorce unethical, but it is also illegal. If you want to protect your assets during a divorce, it is much better to work with an experienced Brentwood divorce lawyer like me, Judy A. Oxford, than to engage in illegal behavior that could cause you bigger problems. I work with clients to help them try to get the best divorce resolution possible, including their assets and their share of the marital property. If you suspect that your spouse is hiding assets, I can also help you try to uncover those to get the divorce resolution you deserve.

What can happen if you hide assets?

Hiding assets isn’t just a matter of not telling your spouse that you have more money or more items of value than you let on, such as real estate or even a business. When you go through a divorce, you are asked to sign a document that discloses your income, your assets, your financial liabilities, your expenses, and so on. By signing this form, you are affirming that you are being truthful. Omitting information from the form is also considered lying, even if you weren’t asked about specific assets.

If it can be shown that a person lied about their finances in any way, they could be found guilty of perjury, which is a crime and can be prosecuted criminally including fines and jail time. Lying would also put that person’s claims in the divorce in jeopardy, meaning that he or she might not get the share of assets sought. He or she loses their credibility which means that they will probably not be believed about other claims they make in their case, so, for example, they may not be believed on their parenting claims and can be affected in getting the parenting plan they are seeking. A judge could order the person to pay the legal fees of his or her spouse.

How can an attorney help you during a divorce?

A lot of people feel tempted to hide their assets because they worry that they will be taken during a divorce settlement. Most people don’t want to suffer a major reduction in quality of life after their divorce, and they will do anything to avoid it. But I would recommend a better way of handling this. I fight to try to help my clients get the best share of marital assets to protect their quality of life as much as possible in a divorce. I try to pursue the best legal strategies and try to find evidence to help you retain the largest share of assets possible, particularly those you came into the marriage with or that are tied up in a business.

If you suspect that your spouse is hiding assets from you, I can help you try to uncover them. When feasible, I work with a forensic financial specialist who can uncover hidden assets, including foreign income, money held in foreign accounts, stocks and other investments, real estate, businesses, and more. I will fight to try to prove the existence of the hidden assets and try to get your share of them despite your spouse’s unethical behavior.

Work with an experienced TN divorce attorney to get the resolution you deserve

Don’t let divorce affect you any more negatively than it has to. Call me, Judy A. Oxford, an experienced Brentwood divorce attorney, to fight for a fair divorce resolution and consideration of your financial future and your quality of life. Call me today at (615) 791-8511 or use the secure online form to schedule a free consultation.

Contact Me

Brentwood Family Law, Criminal Defense And Business Lawyer At Your Service

there for you when you need it most

Contact my office directly to schedule an initial consultation at 615-791-8511 in the Brentwood area. I also respond to e-mails that briefly describe your situation and concerns.

We will begin by answering TWO questions: What is the ideal goal given your situation? What is the best path to trying to achieve it?