If a person tries to hide assets or engage in fraudulent behavior to shield assets from the divorce process, it could have serious legal consequences. Courts typically take such actions very seriously as they undermine the principle of equitable distribution during divorce proceedings.
When a couple gets divorced, the court's goal is to divide the marital assets and debts fairly between both parties. The assets include not only tangible items like property, cars, and money but also intangible assets like investments and retirement accounts.
If one spouse attempts to hide assets or engage in fraudulent behavior, the court may:
Invalidate the Transactions: The court could view the transfer of assets to the man's mom and the subsequent sale of the house as fraudulent and potentially invalidate those transactions.
Penalize the Hiding Spouse: The court may penalize the spouse attempting to hide assets by awarding a more significant portion of the remaining marital assets to the other spouse to compensate for the hidden assets.
Contempt of Court: Intentionally hiding assets could result in the court holding the hiding spouse in contempt, which can lead to fines or other legal consequences.
Lengthen the Divorce Process: Concealing assets can lead to prolonged legal battles, as the court and the other spouse may need to conduct thorough investigations to uncover hidden assets.
It's crucial to be transparent during the divorce process and provide accurate information about assets and finances. Attempting to hide assets not only jeopardizes one's credibility but can also lead to severe legal repercussions. If you're facing a divorce, it's essential to seek legal advice from a qualified attorney to navigate the process properly and avoid making costly mistakes.