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Why you should never hide assets during divorce disclosure

On Behalf of | Jun 21, 2019 | High Asset Divorce

Going through a divorce is difficult for people of any age. It doesn’t matter if this is your first, second, third or subsequent divorce. It is a challenging and stressful process that never gets easier no matter your experience with it. Part of the divorce process is disclosing of your assets and money. You should never lie or hide assets. It can lead to serious consequences.

If you decide to lie about your assets or try to hide them, you are lying under oath. How? You are required to sign a financial disclosure affidavit. If everything on the affidavit is not truthful, you are lying under oath. The judge assigned to your case can force you to pay the legal fees of your spouse and even assess fines against you.

If you lied about your assets, the judge could also wind up dismissing any claims you made during the divorce process as punishment. This means that the judge will not hear your side of the story on various concerns you have or claims you have made.

It’s also possible that you could wind up being held in contempt of court for lying on a financial affidavit or for hiding your assets. This can lead to serious charges and even time in jail if the offense involves millions of dollars in hidden assets.

You could face serious problems if you lie about or try to hide your assets when going through a divorce in Florida. It’s important to be as truthful as possible when filing for divorce so that you do not wind up in a precarious situation that could cost you a lot of money.