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Never lie when disclosing assets during divorce

When you or your spouse files for divorce it is a change in your life as you know it. Going back to being single, with one source of income, can be a major change to adjust to in Kentucky. When you go through the divorce process you will be asked to disclose your assets. You should never lie about any of your assets, or try to hide them, as you could be hit with serious consequences.

Signing the financial affidavit means you swear, under oath, that all the information on it is truthful. This is a legal document. This is a legal statement. You can be held in contempt of court if it is discovered that you lied on the document or did not list all of your assets on the document.

Being held in contempt of court can lead to hefty fines that must be paid to the court and even time in jail. It all depends on the discretion of the judge who is presiding over your divorce case.

You might also be forced to pay the fees for your spouse's divorce attorney or any other fees they spent trying to find assets you were hiding. Lying about your assets can quickly cost you more than just being honest about them from the start of the divorce process.

Lying about your assets, even small amounts, can wind up costing you thousands of dollars in attorney fees and fines. There is no reason you should ever lie on the financial affidavit as it is signed under oath. Don't put yourself in such a legal predicament when going through a divorce.

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