Can Hidden Assets Affect A Divorce In Orange County?
When it comes to divorce, there is no doubt that there are quite a few things which need to be considered. On the one hand, there is the need to overcome the emotional turmoil associated with the breakup and eventual dissolution of a marriage which could have been quite a few years or even decades old. The custody of the children is also another sticking point, and it often leads to a lot of acrimony and tension between the spouses.
The Practice of Hiding Assets
Eventually, there is the financial aspect of divorce which is very important when taken into account. In most of the cases, one of the spouses faces a lot of financial insecurity once a divorce has gone through. Therefore, the courts have no other option but to intervene and instruct the way in which the finances have to be divided once the divorce has been granted and both the parties are independent individuals under the eyes of the law. Declaring the assets of both husband and wife is perhaps the starting point as far as any divorce proceedings are concerned. They are expected to be transparent, open, and honest when they declare their movable and immovable assets. However, this may not always be the case and therefore when a divorce is granted based on incorrect or falsified information about the assets (either by the wife or the husband) problems could arise. Quite often many people cannot resist the temptation of hiding some assets so that they can keep the assets for themselves.
What Are the Common Methods Used by Spouses to Hide Their Assets?
As “unfair” or “dirty” as it might seem, there is no doubt that some spouses use a number of ways and means by which they hide and conceal assets. They understate, hide or undervalue marital property. They overstate debts and also report income which is lower than the actual figure. Expenses are also over-stated. While this practice of lying under oath in a legal proceeding is illegal, there are some implications under the civil law which must be understood by all those involved. This practice could even lead to heavy penalties for those who have embellished such falsehoods.
He or she could be hauled for perjury due to the fact that they are submitting an affidavit to the court whereby they vouch for the truthfulness and honesty of such information. However, this lies on the other party to find out ways and means by which they can call the bluff as far as the declaration of property and net worth is concerned. Hence, whether it is one spouse or the other, the laws of Orange County permit the stakeholders to use professional help and advice. This is extremely important and required, and it could certainly go a long way in making the whole thing clear to both parties. They will use all their investigative and other skills at their disposal so that nothing is left to chance and there is no ambiguity of any sorts as far as the full details of property are concerned.