What is the penalty for hiding assets in a divorce?

The penalties for hiding assets in a divorce can be severe. The potential consequences are: The court may order the party hiding assets to pay the other party’s legal costs.

The court can impose a less favourable financial settlement on the party who hid assets, essentially punishing them by awarding a larger share to the other spouse.

If the hidden assets are discovered after the divorce is finalised, the court has the power to reopen the case and change the original financial order.

In extreme cases, hiding assets can be considered contempt of court, which may lead to fines or even imprisonment. There is also the risk of criminal fraud charges for deliberately concealing assets.

The courts take hiding assets extremely seriously as it undermines the principle of full and frank disclosure required for a fair divorce settlement. The penalties aim to punish the guilty party financially and potentially criminally.