Header Ads

Header ADS

Non-disclosure of Assets in Divorce

It is the duty of parties to make full and frank disclosure of all assets during divorce proceedings in Singapore regarding ancillary matters. However, it is common for individuals to attempt to conceal ownership of certain assets or bank accounts in a bid to try to keep a larger proportion of their assets.

Such acts can have most devastating effects on both parties. When parties try to uncover assets hidden by the other, the divorce process gets dragged out, hiking up legal fees. This drains on the very matrimonial assets that parties are trying to protect. Furthermore, such acts can create mistrust and acrimony between parties. This is especially undesirable for couples with children as parties will still need to cooperate on raising the children.

Additionally, it is not likely that you will have much to gain should you decide to hide assets. If the court has sufficient reason to believe that there has been non-disclosure and no satisfactory excuse for non-disclosure, the court is entitled to draw adverse inferences against the party who failed to make full and frank disclosure.

One should under no circumstances choose not to disclose assets when undergoing divorce. However, should you suspect that your spouse is hiding assets, there are ways to remedy such dishonesty.

For example, you may speak to your lawyer about serving interrogatories on your spouse regarding suspected hidden assets. It can be seen that having adequate legal representation is essential in examining your spouse’s disclosure. An experienced divorce lawyer would be able to identify any abnormalities in your spouse’s disclosure and ensure that the assets are valued properly. This will ensure that you are protected in receiving your fair share in the division of matrimonial assets.

No comments

Note: only a member of this blog may post a comment.

Powered by Blogger.