Attempting to hide assets during the Divorce process is never recommended. Not only is it entirely unethical, but it can also come with serious legal repercussions. The penalty for hiding assets in Divorce isn’t set out in black and white terms. The repercussions can range from financial penalties and court sanctions, and can even result in a less favourable financial settlement in the Divorce. Hiding assets can also cause huge delays in finalising your Divorce.

It is always best to be open and honest with your Solicitor who will cover all avenues to try and achieve the best possible outcome for their clients. Let’s delve a little deeper into the possible penalties for hiding assets below.

What is the penalty for hiding assets during Divorce proceedings?

Hiding assets in Divorce is a serious offence in England and Wales. Although there isn’t a single fixed penalty, the Court has various options when it comes to penalising the spouse who has attempted to conceal assets:

Contempt of Court

If you intentionally fail to disclose assets in Divorce, this can be seen as contempt of court. The punishment for this can be potentially fines or even imprisonment in extreme cases.

Less Favourable Financial Settlement

As mentioned above, hiding assets can lead to a less favourable financial settlement. Even if the hidden assets are not discovered until after a financial settlement has already been made, your ex-spouse has the right to apply to have the order changed.

Financial Penalties

If you play the game, you may pay the price. The Judge can order the party who hid assets to pay the legal costs of both parties. These costs can be significant as Divorce Proceedings can become very expensive.

Delays

If a Court finds that a party has been hiding assets, this will certainly cause complications and delays in the divorce process. This will result in further unnecessary stress and costs.

What should I do if I suspect my ex is hiding assets?

We would never advise that you confront your ex directly about your suspicions. Always seek legal advice from a Family Law Specialist before taking any action. Our team can help you to navigate the legal process to obtain full disclosure. We have the potential to utilise certain legal tools to uncover hidden assets. Removing you from the investigation protects you from the legal repercussions you may face if you were to handle it alone.

Get in touch with our team of Family Law Specialists

Divorce can be stressful and complicated to navigate. If you need legal assistance, we welcome you to contact our team of Family Law Specialists who will be happy to guide you through the legal process. Send us a confidential message via our online contact form to see how we can help you.