Law Office of Michael D. Tracton, P.C.
Call For A Free Initial Consultation
281-201-1481
View Our Practice Areas

Why should I disclose all of my property and assets?

Divorce is never easy. Whether it was because of emotions and disappointment about the marriage not working out or because of unresolved disputes, it is common for people to have some difficulty when they are divorcing. Sometimes, this difficulty can come from people not doing what is asked of them and them failing to follow divorce laws. 

People are asked to share a lot about themselves and their relationship when they are getting a divorce. Not only will the attorneys and judge want to know about their income, age and length of the marriage, but they will also want to know about the couple's property and assets.  There are consequences that go along with not disclosing property and assets, whether it is intentional or because it was simply forgotten, one of the biggest mistakes a person can make when getting divorced is not sharing this information.

Should someone fail to fully disclose their property and assets, they may find themselves back in court in front of a judge. When a couple divorces, depending on the circumstances and the laws of the state, they may be required to divide their property and assets. If a spouse has kept things hidden, and it is later found that they were in possession of these things that should have been divided during the divorce, the decree could be thrown out. This means all the time they may have spent in court will have been a waste 

It is possible for a divorce to be resolved amicably. However, that depends on the parties and if they are honest and open about their finances. Anyone who is planning to divorce their spouse should speak to an attorney as they are able to answer questions and assist with the divorce process.

No Comments

Leave a comment
Comment Information