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What happens if your spouse hides assets before your divorce?

| Feb 1, 2021 | Divorce |

If you are thinking about ending your marriage, you want to secure your personal financial future. While you may be eligible for spousal support, sometimes called alimony, you should also receive a share of the marital estate. Still, if your soon-to-be ex-spouse hides assets from you, you may end up with the short end of the stick.

Hiding assets in the lead-up to a divorce is not only unethical but it is also potentially illegal. If your spouse deliberately tries to mislead you and the court, he or she may face serious consequences.

Contempt of court

When you prepare for divorce, you have a legal obligation to disclose marital assets to your spouse and to the court. Because your husband or wife has the same obligation, a judge is not likely to look kindly upon deception.

Texas law gives judges wide latitude to hold those who do not respect court processes or orders in contempt of court. A contempt of court order may result in a fine or even possible jail time for your husband or wife.

Criminal charges

Failing to disclose marital assets and liabilities may constitute perjury, which is a criminal offense in the Lone Star State. Depending on how your spouse tries to deceive you, he or she may also commit other criminal infractions, such as fraud or money laundering.

Loss of the asset

Harmed spouses have a variety of options for uncovering hidden assets before, during or even after divorce proceedings. For example, you may work with a forensic account to shed light on the deception.

Ultimately, if your husband or wife hides wealth from you, a skilled attorney may convince the judge to give the found asset to you.