Many Mississippi families are going through some major life changes as 2024 gets underway. Some are having babies. Others are moving across the country to start new jobs and find new homes. Many are experiencing less happy changes like divorce. While some spouses will be able to achieve a fair settlement swiftly and amicably, others will not, mostly because a spouse might have a bad attitude or is acting underhandedly, like hiding assets.
When a married couple decides to file for divorce, they must navigate the disclosure phase of proceedings. During this phase, each spouse must complete a financial statement, listing all assets and liabilities. This helps the judge determine a settlement amount for each spouse. If your spouse lies to court regarding how much he or she owns or owes, it could constitute perjury.
Perjury in a divorce carries stiff penalties
Perjury is a crime that may be elevated to a felony in certain circumstances. Regardless, it is possible for the court to hold a spouse who has hidden assets in a divorce in contempt of court. The punishment for being declared in contempt of court may even include jail time.
What to do if a spouse is hiding assets
A spouse might try to hide assets to short-change the other spouse during property division proceedings. Anyone who suspects this will want to launch a full investigation to gather evidence. When the matter is brought to the court’s attention, the judge will expect the spouse who has made the allegations to substantiate the allegations. An experienced Mississippi family law attorney can provide guidance regarding where to look for hidden assets in a divorce.