What happens if a spouse hides assets during a divorce?
What happens if a spouse hides assets during a divorce? Tim Cella Former Paralegal at Ascent Law (2018–2021) Just now It’s been a few years, but I remember reading about how a lady won the California lottery and hid it from her husband and got divorced. It was discovered years later and her now ex-husband went back to court because she hid the winnings and failed to disclose. The judge granted the ex-husband all of the money. The link is here to that case . When a spouse hides assets during a divorce, it can be considered a form of financial fraud known as "asset dissipation," which is a serious offense. In most jurisdictions, asset dissipation is considered a crime, and can be prosecuted. It is also considered a form of civil fraud, and can be grounds for a civil lawsuit. When a spouse is found to have hidden assets during a divorce, the court will usually order them to return the assets, or to pay the other spouse an equitable amount as compensation....