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Tag: Hiding Assets

Don’t Fall Victim to Hidden Assets During Divorce

When it comes to divorce in Massachusetts, everything related to finances must be fully disclosed. This includes every single asset, purchased together or otherwise, as well as all accumulated debts. Each spouse is instructed to report known findings through a financial affidavit. It is against the law to purposely hide, understate, or overstate assets, as well as any marital property, debt, income, or expense. In extreme cases, this can potentially lead to the withholding party being sentenced to serve time in jail. If you suspect

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Getting a Divorce and Think Your Spouse is Hiding Income?

Unfortunately, divorce is a fact of life. Unsettling and even frightening, it often brings out the worst in people. This includes one spouse hiding income from the other in an attempt to keep it for himself and lessen his spouse’s settlement amount. Although penalties are in place to prevent this kind of unethical behavior, it still happens fairly frequently, particularly in marriages with a complex financial picture. The more sources of income, investment accounts, retirement accounts, insurance policies, et cetera that a couple has, the

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