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What happens if your ex hid assets from you during the divorce?

On Behalf of | Oct 8, 2020 | Divorce

You finalized your divorce a few months ago and have since begun to move on. However, after seeing some recent social media posts, you noticed that your ex seems to be doing very well financially and even bought a beach house on the coast. From the images, you can tell their new home is definitely not a rental property and was purchased since the divorce.

Meanwhile, you had to fight to receive enough money in the divorce to purchase the small flat you currently live in. When your divorce went to court, your ex had pleaded poverty. Yet, just a few months later, they own a luxury property on coastline. Are you missing something?

Hidden assets result in an unfair divorce

While it’s possible your ex may have won big on a recent trip to Vegas, it’s more likely that they were hiding assets during your divorce.

Hiding assets is an illegal act and leads to unequitable division during divorce. While your ex may have gotten away with it thus far, you still have a couple of options at your disposal to rebalance the terms of your divorce:

  • Reopen the case: You can present the evidence you have discovered and ask the court to reopen your case. If the court agrees, you can work to revise the settlement based on the actual value of your ex-spouse’s assets, not just the assets they presented during your original case.
  • Pursue mediation: Using mediation, you and your former spouse can negotiate an out-of-court deal that results in more equitable terms than your original agreement. This option can be preferable for divorcees looking to avoid the expense and publicity of litigation, although it requires more cooperation.

Asking a court to reopen a case takes time and could be costly. If you do go to court, a judge may decide to penalize your ex-spouse for failing to disclose all of their assets and award you everything that your ex hid, giving you much-needed leverage during your new negotiations.

If you discover your ex hid assets during your divorce proceedings, seek legal help to ensure the best outcome possible.