What Are the Consequences of Hiding Assets During Divorce?

When the courts get involved in a family law issue, it is expected that both parties will be honest and forthcoming with any information pertinent to the case. In a divorce, this often means disclosing full financial information so the Georgia legal system can properly help work out a fair arrangement. But, what happens when one party hides assets as part of this process? Those who do something risky like this could face serious legal consequences.

First, why would someone lie about their assets in a divorce? There are many reasons people may do this. They may wish to downplay the amount of wealth they have for fear of needing to share it with a soon-to-be-ex. Or, they may want to prevent a valuable item from being taken or liquidated in the divorce. Whatever the reason, this is a move that could seriously backfire.

While family law is considered a civil matter, attempting to hide assets could in fact land someone in criminal court. This is because, during the assessing and enumerating process, spouses are required to be honest in their disclosures. This means that an who is individual hiding assets is at risk of perjuring him or herself and is therefore open to being held criminally responsible. The outcome of this could include jail time and/or significant fines.

Many people want to protect something precious to them or avoid giving more than they deem fair in a divorce. The best way to protect one’s interests, however, is not to hide things. Working with an experienced Georgia family law attorney to work out an equitable settlement is the course of action individuals should take when considering property division in a split, as this will allow a person to work toward a positive result without risking his or her freedom or wallet.

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