Divorce Mistakes: Why Hiding Assets is a Risk You Can’t Afford
Divorce is a stressful process, and when emotions run high, some people are tempted to hide assets from their spouse. Maybe it’s a bank account, a piece of valuable property, or an unexpected bonus at work. While keeping assets out of sight might sound like a simple way to “even the playing field,” the truth is—hiding assets during a divorce is one of the biggest mistakes you can make. This isn’t just a moral misstep; it’s a legal one, too, with serious consequences.
If you’re entering a divorce in West Virginia, understanding the risks of hiding assets and how it impacts your case is essential. Here’s what you need to know.
The Legal Consequences of Hiding Assets
Hiding assets during a divorce is illegal. Courts view this as an attempt to deceive both your spouse and the legal system. West Virginia operates under equitable distribution laws, meaning marital property is divided fairly during a divorce—but fairness depends on honesty. If you choose to hide assets, it could backfire in multiple ways.
Some legal consequences include:
- Penalties and fines: If caught, you could face financial sanctions for attempting to conceal property.
- Loss of credibility in court: Judges take dishonesty seriously. Once your credibility is in question, it may hurt your case on other issues, like custody arrangements or alimony.
- Unfavorable rulings: The court may award more assets to your spouse as a punishment, which can leave you in a much worse financial position.
- Criminal charges in extreme cases: Hiding assets could lead to accusations of perjury or fraud, which carry heavy legal ramifications.
How Are Assets Uncovered?
Think hiding assets is easy? Think again. Divorce lawyers, financial experts, and forensic accountants are trained to uncover even the most hidden treasures.
Common methods used to find undisclosed assets include:
- Reviewing financial and tax records
- Tracking down unusual transactions or missing funds
- Investigating hidden bank accounts, trusts, or safety deposit boxes
- Examining property records for undisclosed real estate
- Scrutinizing investments, businesses, or retirement accounts
The paper trail is difficult to erase, and the risk of being caught far outweighs any perceived benefit of hiding assets.
What Counts as Marital Property in West Virginia?
Before you attempt to “stash away” an asset, it’s important to understand what the court considers marital property.
Typically, marital property includes:
- Income earned during the marriage
- Homes, vehicles, and other property purchased together
- Joint bank accounts and savings
- Retirement accounts and pensions
- Shared debts
Separate property—such as assets acquired before marriage or received as gifts or inheritance—often remains with the original owner. However, if separate property is mingled with marital assets, it might become subject to division. Transparency is key to ensuring a fair outcome.
How Raber Law Offices Can Help
At Raber Law Offices, we know divorce is complicated and emotional. That’s why we’re here to help you handle the process with integrity and clarity. We understand the nuances of West Virginia’s divorce laws and are ready to protect your rights while ensuring your actions don’t jeopardize your case.
Here’s how we can support you:
- Conducting a full asset review to ensure all property is accounted for
- Assisting you in disclosing assets properly and avoiding legal missteps
- Professionally responding if you suspect your spouse is hiding assets
- Fighting to ensure an equitable outcome, no matter how complex your situation is
Divorce is tough, but making mistakes during the process can make it tougher. For expert guidance and a team that always has your back, reach out to Raber Law Offices today.
Don’t Risk Your Future
If you’re entering a divorce, don’t make decisions that could harm your financial well-being or legal standing. Hiding assets isn’t worth the risk, and with Raber Law Offices on your side, you can tackle the process with confidence and transparency.
Contact us today for a consultation. We’re here to help you protect your rights and secure a fair future.