Can hidden assets be exposed and equitably distributed once a divorce is finalized?

Asked about 5 years ago - Medina, OH

I discovered that my ex bought into a business two weeks before our divorce was finalized and witheld that information. Does this classify as hidden assets or financial misconduct and would the courts be willing to look into the matter?

Attorney answers (1)

  1. Thomas Arthur McCormack

    Contributor Level 14

    1

    Lawyer agrees

    Answered . The short answers are "maybe" and "it depends". If a separation agreement had been agreed to, and husband used only his assets designated by that separation agreement, it is unlikely a court will find any reason to consider that a hidden asset. Think about it. If you had divided $10,000 and he bought a car with his $5000, you wouldn't be entitled to half of the car. You already received half and his half remains his, whatever form it takes. But if the money he used was hidden money and had not already been dealt with in the division of property, you may have a claim.

    THE ANSWER PROVIDED is for general informational purposes only. This attorney does not intend to give legal advice. Evaluating the statutes and case law, as well as any relevant court documents together with a more detailed factual analysis could result in a different response. The attorney does not intend to create an attorney/client relationship by the response. Anyone seeking legal advice should always consult with retained legal counsel for a full evaluation of his or her claims.

Related Topics

Divorce

Divorce is the process of formally ending a marriage. Divorces may be jointly agreed upon, resolved by negotiation, or decided in court.

Equitable distribution in divorce

Equitable Distribution is a set of rules for fairly dividing a couple’s assets and debts after a marriage ends. Most states use this system.

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