The minute you know that your marriage has ended, you will likely start preparing for what's to come. This can be a lengthy process, especially if you have trouble coming to an agreement with your spouse, which was likely a main cause of the failed marriage. An important thing you need to know is you should never hide assets when divorcing.
If you try to hide assets in your divorce, you can get into quite a bit of legal trouble. For starters, when you sign the paperwork (financial affidavit) that lists all of your assets, you are claiming that everything listed is true and that what is listed is correct to the best of your knowledge.
Should you lie on the financial affidavit about your assets and it is discovered, you run the risk of being held in contempt of court. It's also possible that the judge assigned to your case could order you to pay the attorney fees of your spouse. You could also be subject to fines imposed by the court.
Another possible consequence of lying on the financial affidavit is that you might have to forfeit any claims you made so far in the divorce. This could lead to you having to forfeit money and other assets you were awarded to your spouse. In the most serious of cases, you could face time in jail.
Hiding assets when divorcing can cause a lot of problems for both you and your soon-to-be former spouse. Avoid all of these issues and potential legal trouble by disclosing all of the assets in your name to make dividing the property easier.