Divorce is one of the most traumatic experiences a person can go through. For most people, the emotional stress and pain is excruciating. However, the financial cost of divorce can also be taxing. Not only do divorcees face possible alimony and child support payments, but they may also suffer as a result of the division of debt and assets. But this is how divorce works. To soften the blow, many couples choose to resolve their differences amicably and out of court.
Unfortunately, some divorce clients fear losing assets and think they can beat the system. Not only does deceiving the divorce court rarely work, but it also carries harsh consequences, including:
- Concealing assets during a divorce is illegal — It is unlawful to conceal assets during a divorce in California. Concealing assets is not as mysterious as it sounds either. In fact, you may be guilty of hiding assets if you transfer them to a friend, send them to a relative, or even bury them. If the court uncovers hidden assets, you may be held in contempt of court and may face fines and a jail sentence.
- Lose creditability in the eyes of a judge — Hiding assets means you are lying to the court. Judges do not appreciate being lied to, and you may lose credibility in your case a result. This can make an already painful divorce even more difficult and arduous to endure.
- Your attorney may resign from your case — Your attorney expects you to tell the truth. If you lie to your lawyer, he or she will be unable to represent you to the best of their ability. Also, your lawyer may find your behavior unethical and may not wish to represent you any further.
- May be required to pay spouses legal bills and forfeit the entire value of the hidden assets — In addition, you may be required to reimburse your spouse for the court costs as well as the cost of hiring a legal or private investigator. Furthermore, the entire value of the hidden assets may be forfeited as a result. Hiding assets will also void any prenuptial or postnuptial agreements.
If you are going through a divorce, you need to realize that hiding assets is not an option. It is highly illegal and will only hurt your case. Instead, consider hiring an experienced divorce lawyer that has handled cases like your own.
Contact an experienced team of divorce lawyers in California
Giuliano Law provides dedicated divorce counsel to clients in Hollister, Santa Clara, Santa Cruz, Monterey, and San Benito counties. No matter how tough your case may seem, our seasoned divorce lawyers are up for the challenge. To discuss your case with a skilled divorce attorney, call (831) 257-8692 or contact us today.