If you suspect that your spouse is not completely honest with their assets in a divorce, what can you do?
Division of matrimonial assets – Is your spouse hiding assets in your divorce?
Are you suspicious that your spouse is planning to divorce you and is hiding assets from you?
If you suspect that you spouse is not completely honest with their assets in a divorce, what can you do?
The Singapore position if a spouse hides matrimonial assets in a divorce
In Singapore, divorcing spouses have a legal duty to make full and frank disclosures of all their assets. This is a serious duty, and the courts do not like it when a spouse cheats by hiding assets or income.
In divorce law, there is the fundamental principle that couples should not be allowed to hide assets from each other during their divorce. The courts can divide assets fairly only when parties are honest and transparent.
Failure to disclose all relevant financial information and documents constitutes material non-disclosure. At PKWA Law, we advise clients that they must make full and frank disclosures of their assets and means.
If the court finds that there has been material non disclosure, the court may make an adverse inference against the guilty party, including allocating a bigger share of the matrimonial assets to the other spouse.
How to tell if your spouse is cheating and hiding assets from you
Here are 7 warning signs if your spouse is hiding assets:
Transfer of assets to family members – giving cash or property to a friend or family member to hold while the divorce is proceeding.
Selling assets at prices significantly lower than their value
Using a secret bank account to hide money.
Changs to passwords and online accounts.
Unusual deposits or withdrawals.
Loans to family and friends.
Sudden drop in income.
Consult a divorce lawyer immediately
You should immediately consult a specialist family lawyer if you need help figuring out how to protect your assets in a divorce or need assistance tracing hidden assets. You must not imagine that it is an easy task to trace assets – you will need to have tremendous financial resources – especially if you have absolutely no clue where the assets are, or if the assets are in a foreign country.