The consequences of hiding assets during divorce

A recent decision of the Family Court has put the spotlight on an issue that comes up time and time again when spouses separate. The issue being where one spouse feels that the other has not been honest during the financial disclosure process and instead has gone out of their way to conceal their true wealth and/or assets.

In this case the court made a number of findings against a wealthy husband regarding his conduct in the proceedings including non-disclosure, fraud, a lack of credibility and dishonesty. As such the husband was sentenced to 12 months imprisonment for defying court orders and leaving the country.

Whilst it is appreciated that most spouses will know or have an understanding as to the other’s financial resources and assets, a good family lawyer will always advise their client to provide this information to them also so we can advise them fully as to whether or not a potential settlement is fair and that nothing is missed out.

If you would like to find out more about disclosing finances during divorce then please get in touch by contacting us on 01257 422500 or by email to h.boynton@phsols.co.uk