Why You Shouldn't Hide Assets When Going Through A Divorce

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When a divorce between you and your spouse appears imminent, you may start to worry about which of your assets your spouse may have access to legally. While you likely share a lot of assets, you may have certain things that you own and that you don't want to lose. It can be tempting to start hiding assets — for example, renting a self-storage locker and putting a collection of cash, jewelry, or other valuable possessions into it and hoping that your spouse doesn't bring these things up in discussion. As much as this behavior is understandable, it's generally best to avoid. Here are some reasons to avoid hiding assets when you're going through a divorce.

Your Spouse's Attorney May Find Them

When you hire an attorney to represent your interests during the divorce proceedings, he or she will commonly ask you if you've hidden any assets. Even though you can always be honest with your attorney and know that what you divulge is kept confidential, you may dishonestly answer that you haven't hidden anything. What you might not know is that your spouse's attorney has investigators who are digging into your history and trying to locate anything you may have hidden. If this information comes up in court, it can make for an uncomfortable situation.

It Makes Things Harder

While it's understandable that you want to look out for your own best interests when you're going through a divorce, you should also be mindful of any decisions that will make the situation more difficult. A divorce doesn't have to be combative; if you both can be civil, you'll be able to get through the legal process quickly and with less heartache, which should be a goal that you share. When your spouse believes that you're hiding assets, it can quickly make the situation more contentious.

Your Spouse May Appeal Later

Once you complete the divorce proceedings, you can focus on getting on with your life. However, there's a risk that you'll once again have to contend with a legal battle if you hide assets. Should your ex-spouse determine that you've hidden assets, he or she may lodge an appeal that you'll need to address with the help of your attorney. This will bring you right back to the unpleasantness of the divorce, even if it's been months since then. When you make the decision not to hide any of your assets, you'll thankfully avoid these difficulties.

For more information, contact a company like Grafton Law Office.