Hidden Assets on Divorce
Why do I need to think about protecting my family’s assets?
A judge can only rule upon the division of assets where such assets can be proven to exist and have been assigned an appropriate value.
Often assets are hidden or are attempted to be hidden and finding these, whilst not impossible, can be a very laborious and thus an expensive process.
What to do when I think my partner is hiding assets?
Experienced solicitors have seen these situations many times and will have developed an instinct or “nose” for knowing where to look but not everything is found all the time.
Many a time there will be speculative avenues of an investigation but the cost of these investigations must be weighed against the value if found. You can spend a million to find a million which whilst it may be emotionally satisfying is not financially sensible.
A judgement must be taken and this is a matter of negotiation between client and lawyer.
What are the consequences of hiding assets in a divorce?
If one side is found to have deliberately hidden assets the judge will take a very dim view and the ruling will be made accordingly.
Potentially separate legal remedies may be available to the aggrieved party but this will be outside of and separate to the divorce process.
Do I need a Clean Break Order when I divorce?
It is possible to request a clean break settlement in divorce but the desirability needs to be negotiated between client and solicitor as in nearly all cases it will be impossible to review the decision at a later time.