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Articles Tagged with hiding assets

Annulment: The Other Option to Ending a Marriage

What to Do If You Discover Important Information After Finalizing Your Divorce

For those people looking into ending their marriage, divorce is an obvious option that will likely be a person’s first choice. Most people are at least partially familiar with the divorce process and likely know someone who has gone through a divorce. However, there is another way to legally end a marriage in California. Although both a divorce and an annulment sever marital ties, the legal effects of each are very different. There are both pros and cons for each option, so both should be thoroughly considered if they are an option.

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Commonly Overlooked Financial Issues in Divorce

Commonly Overlooked Financial Issues in Divorce

Divorce is likely to be one of the most challenging experiences you will ever endure, and it’s important to approach the situation as informed as possible about the obstacles you are likely to encounter. Divorce is more than just terminating your marriage contract; it is also the legal process of assigning individual ownership rights over the property and debt you and your spouse jointly control.

Navigating any divorce can be incredibly difficult, but this is especially true for cases that involve complex financial issues. Do not assume that if you are not wealthy, you will not face significant financial concerns in your divorce proceedings. The following are some of the biggest financial problems that catch divorcing spouses by surprise as their cases unfold.

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Full, honest, and complete disclosure is a critical part of divorce in California. Family Code section 2100 explicitly calls for “full and accurate disclosure of all assets and liabilities” because doing so furthers the sound public policy of “the reduction of the adversarial nature of marital dissolution and the attendant costs…”

Divorcees often ask about the legal consequences of concealing assets in a divorce case. Under California law, doing so is an express breach of fiduciary duty and the penalties can be severe. There is no better example of this than the result in the Marriage of Rossi case, where Wife tried to hide over a million dollars in lottery winnings she received before separation.

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