Raleigh Divorce Law Firm
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PLEASE NOTE: Our office is open for business as usual but in these unprecedented times, the team at Raleigh Divorce Law Firm is taking proactive steps to protect our team, clients and colleagues as well as do our part to help slow the spread of COVID-19. We have taken measures to limit the number of people physically in the office and have been working with clients to handle meetings by phone and utilize other technological methods to communicate when necessary. Our office location does not share space with any other businesses so there is a limited amount of traffic in and out of the office. We sanitize our conference rooms after each use so they are clean and ready for the next client.

There are currently courthouse policies state-wide that involve the postponing of trial dates within the next thirty days and we are working diligently to make sure our existing clients are notified about this and to reschedule any affected court dates. We continue to remain committed to providing quality legal services. Our phone and computer systems have the ability to operate remotely, should that become necessary at any point in the future. Additionally, we utilize a secure network and have an IT team dedicated to protecting our client’s privacy and security while allowing our attorneys, paralegals, and staff the opportunity to work from home if needed.

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Is it really a problem to hide assets during divorce?

During a divorce, particularly a contentious or bitter one, parties might feel motivated to engage in some unwise -- and potentially unlawful -- conduct. Some people do things to hurt their ex; others do things to protect themselves.

However, these efforts can ultimately backfire. For instance, if you (or your ex) attempts to hide money or assets during a divorce, it can cause a number of problems for everyone, including the person hiding property.

Financial and legal penalties

A person who lies on court documents, like a financial affidavit in a divorce, can face a range of serious penalties. For instance, if a person fails to disclose stock ownership during divorce, upon reveal, a judge could award some or all of the asset to the other spouse. In other words, attempting to hide an asset can ultimately mean handing it over to an ex.

There could also be legal penalties for lying under oath. This is perjury, and it is possible that a person could face criminal charges and jail time for the offense.

Trust issues

Concealing, undervaluing or otherwise misrepresenting assets during divorce is also an easy way to cause more contention and distrust. Suspicions of hidden assets could make mediation impossible, and adding this element of deceit to an already painful process can wind up affecting division of property, spousal support and even child custody agreements.

Utilization of resources

If a person is hiding assets, then it can take intensive investigation and sophisticated resources to uncover them. This takes time, money and energy, which are all things people try incredibly hard to preserve and protect during a divorce. As such, hiding assets can ultimately leave a person with even fewer resources than they started with.

Hiding assets during a divorce is unlawful and unwise. Unfortunately, it does happen. If you have concerns about your ex hiding assets, or if you want to pursue legitimate avenues to protect your financial future, then talking to an attorney can be wise. Without legal guidance, you could wind up making costly mistakes that affect you long after a divorce is final.

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8341 Bandford Way, Suite 1
Raleigh, NC 27615

Phone: 919-256-3970
Fax: 919-256-3971
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