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TX divorce lawyerDuring a divorce, spouses are required to disclose detailed information about their income, assets, and debts. This ensures that both parties are able to make informed decisions during the property division process and that any settlement or court order incorporates accurate information about all known financial factors. While many divorcing spouses are careful to provide accurate and detailed financial records to each other, it is also not uncommon for one spouse to attempt to lie about assets or debts in an effort to retain the entire interest in an asset or to force a spouse to pay more than his or her fair share of a debt. This type of conduct is strictly prohibited under state law, so if you believe that your spouse is attempting to hide assets or liabilities, it is important to contact an experienced high asset divorce attorney who can ensure that your interests are protected.

Improper Disclosures

Disclosing all of one’s assets, interests, and liabilities is a complicated process, so there are actually a number of ways that a spouse can avoid telling the truth about his or her financial situation. In many cases, this involves failing to list certain assets on necessary disclosure forms or assigning improper values to property or debts. Alternatively, a party could fail to come clean about when and how he or she acquired an asset or could hide documentation that would reveal the truth about property values or ownership. In other cases, one spouse misrepresents how much the other contributes to the household, lies about how joint funds are used, or even unfairly accuses the other of stealing funds. In either case, this kind of behavior is unlawful in Texas, so spouses that are discovered violating disclosure rules could be held in contempt of court, or lose their interest in certain property.

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The Law Offices of William D. Powers

8911 N. Capital of Texas Highway, Building 2, Suite 2105, Austin, TX 78759