6 Facts to Know About Hidden Assets in Divorce (Pt. 1)

While divorce can be as contentious as it may be stressful, the process can become far more complicated when either partner tries to conceal assets in the divorce. To shed some more light on this issue, we’ll point out and discuss some important facts to know about hidden assets in divorce below, as well as in a few upcoming parts of this blog series.

If you think your former spouse may be hiding assets in your divorce – or if you need just want the best representation moving forward with your Arizona divorce, don’t hesitate to contact trusted Scottsdale Divorce Attorney Karen Schoenau. She is experienced at successfully resolving complicated divorce cases, and she is ready to provide you with superior representation in your divorce.

Hidden Assets in Divorce: A Look at the FactsFact 1 – There are a few Notable Ways That People try to Hide Assets in Divorce.
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Hidden assets in divorce can be problematic, but knowing the facts about hidden assets in divorce can empower you. Contact us for help successfully resolving your divorce.

When marriages end and former partners are bitter, resentful and/or plain upset, trying to keep some assets in their divorce hidden can be tempting. Generally, the ways that people tend to try to hide property, income and other assets in divorce can include by:

  • Undervaluing and/or concealing the marital property
  • Understating their income
  • Inflating the marital and/or their personal debt situations
  • Overstating their actual costs and expenses.
Fact 2 – Hiding Assets in Divorce is Illegal.

While people may try to conceal assets in their divorce in various ways, one thing never changes – the fact that hiding assets in divorce is illegal. In fact, while any information included on authorized court documents should be true and complete to the best of someone’s knowledge, with the Financial Affidavits in divorce, people are generally required to:

  • Disclose ALL of the details of their financial accounts and affairs
  • Swear, under the penalties of perjury, that they have provided truthful and complete information.

So, when either party in a divorce chooses to omit specific financial information from these affidavits (or other court documents), that person will have violated the law.

For some more facts about hidden assets in divorce, don’t miss the second and third parts of this blog series that will be published soon!

Scottsdale Family Law Attorney at the Law Office of Karen A. Schoenau

Are hidden assets an issue in your divorce? Or do you need any assistance with divorce? If so, you can rely on Scottsdale Family Law Attorney Karen Schoenau for effective representation and the best possible outcomes to your case. Since 1987, Karen Schoenau has been committed to helping people resolve their important family law matters, including complex cases related to divorce, custody, paternity and other issues.

Dedicated to providing the highest quality legal services at reasonable rates, Scottsdale Family Law Attorney Karen Schoenau will always aggressively advocate her clients’ best interests and work diligently to help them bring their divorce cases to successful resolutions.

Contact us Today

To receive professional advice and learn more about how we can help you, schedule an initial consultation with Attorney Karen Schoenau. You can set up this meeting by calling 480-209-1918 or by emailing us using the drop-down contact form at the top of this page.

From her offices based on Scottsdale, Attorney Karen Schoenau represents clients throughout the metropolitan Scottsdale area, including in Scottsdale, Mesa, Surprise, Maricopa County, Pinal County, Gila County and throughout the state of Arizona.

Client Reviews
Karen is highly respected in the legal community. She is effective and thorough. Karen just keeps going regardless of the odds.
Karen was extremely helpful setting up my petition for conciliation. She is by far the most knowledgeable attorney regarding the necessary paperwork, how to file the petition and where it has to be submitted. She listened intently when I was describing my situation and intentions. She was very responsive to my questions and request. She is trustworthy and diligent . I would recommend her to anyone having marital issues. Mark
Very high customer/client considerate. We found Karen when we were forced to leave another Phoenix lawyer due to his bad advice and lack of interest to help us. We were in Phoenix for six days from Michigan with nothing happening but a high wasted expense. Karen and her firm took us in and solved our issue with the courts etc. in two and a half days. Karen’s professionalism with us was very cost effective/productive. If we would have found her first, we would have saved thousands of dollars. Her interest for us was very high. She returned every call. She knew every answer to our questions. She did this for us with a death in her family. She left for a funeral and made sure we were treated with the same professionalism from her firm to finish up. I recommend Karen and her firm with very high satisfaction. Our case is custody with one parent in prison. We will return to Phoenix someday with interests for the child and his parent, if needed. Karen will be our top choice. Nolan
Karen and Bonita are wonderful!! I know that the word "wonderful" is used a lot, but the team they make and the work they did for me can only be described as WONDERFUL!! Yes there where ups and downs in my case, but that is the system and Karen along with Bonita guided and taught me as "WE" went through it together. Karen’s easy going manner and her knowledge really helped me with the emotional part of my divorce. I used the team of Karen and Bonita both times I needed to go to court with my ex and had results that were best for my little girl. Some times I did not get what I wanted, but it was what my daughter needed. Looking back at my case, I made the right choice and would do it again in a heart beat!! Jim
Karen was extremely supportive during a very trying time in our lives. She helped me to put things in perspective and think positive when I was overwhelmed. She is very knowledgeable about the laws pertaining to grandparents rights and the rights of the parents and knew how to provide the appropriate laws pertaining to the situation we were in. I am so grateful for her expertise and guidance. She proved to be very aggressive when she needed to be but was also supportive to my and my children. I would recommend her to anyone in a similar situation. Deanna