Judges generally look very unfavorably on both dissipation and hiding of assets, and a certified fraud examiner can be called to testify as an expert witness.

In preparation of a divorce a spouse may take actions to protect certain assets. This is equivalent to hiding them in the eyes of the court, so attempting to shelter assets from a property distribution upon divorce will result in severe penalties if discovered.

See also UCC Filings.

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1. Hidden Assets
   Very often in a divorce, one spouse attempts to hide marital assets. This is one reason why when a divorce is in the offing, it is a good idea to begin to collect al financial information. Assets can be hidden as false debts to friends or in a closely held business.
   Contributed on 6/20/2007 by: DivorceDex.com Staff

   Category: Property Division  (Applicable in All States)
2. Protecting Marital Assets Through a Corporartion
   Piercing the corporate veil is not always the easiest of tasks. Many divorcing spouses will seek starting a corporation in the state of Nevada to hide marital assets. They choose Nevada because the corporate laws are much more lax and permit silent principals. When someone is a silent principal, he or she is able to hide behind the corporate entity, essentially hiding money in the anonymity.
   Contributed on 6/20/2007 by: DivorceDex.com Staff

   Category: Property Division  (Applicable in All States)

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