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

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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 Facts

Fact 1 – There Are a Few Notable Ways That People Try to Hide Assets in 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 an Experienced Arizona Divorce Lawyer 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 480-467-3435 or by emailing us using the drop-down contact form at the top of this page.

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