The Reality of Hiding Assets During a Divorce

During a divorce, it can be tempting to fudge the numbers a little bit. Small details can drastically change the resolution and leave you paying less child support or alimony. While this may be true, there are also strict laws in Colorado that can lead to hefty punishments and fines if you do not provide accurate information during divorce proceedings. We at Kaplan Law are committed to helping you avoid these consequences while still achieving the best outcome possible.

Forbes.com states that there are several different ways you can attempt to falsify information or hide assets during a divorce, but all of them are illegal. These include claiming that you have more debt than you actually do to make courts think your living expenses are higher than they really are. Some even choose to report a lower income.

In some cases, you may be purposefully trying to avoid paying out money, but in others cases you may simply be under the impression that the money you have earned is yours to keep and does not need to be mentioned. While it may be your property, the law requires that you report all assets during a divorce, no matter who is the owner.

If you do not provide honest information, the result can be severe. A judge can hit you with a fine and require you to pay your spouse’s legal fees if you attempt to hide assets during your divorce proceedings. Some choices can even land you in jail. To learn more about what can happen if you hide assets, visit our web page.

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