they feel the law will not divide their assets in a way they would agree with.Why do spouses hide assets?Ī person may decide to hide assets from their spouse during separation or divorce for a number of reasons, such as: In addition, the person will have a criminal record. If convicted, the person could be sentenced to pay restitution to the other spouse, a fine to the court, and/or to imprisonment. If a spouse has been hiding assets and has lied or sworn false documents during a divorce to keep those assets hidden, they could be committing the criminal offence of fraud. This is especially true if the case involves a spouse who was not making court-ordered spousal or child support payments. A licensed private investigatorĬan help with these types of investigations. In extreme cases, such as a spouse draining large amounts of money from a bank account, RRSP or other investment without the other spouses consent or knowledge, a judge could sentence the guilty party to imprisonment. If discovered, a judge can force the guilty party to pay fines, or give the other party the total amount of those assets. ![]() ![]() It is illegal to hide assets during a divorce proceeding. The Ontario Family Law Act decides the division of property upon relationship breakdown, and property includes any money, real estate, pensions and disability benefits, and other assets the couple have. During separation and divorce assets are valued and then divided according to provincial law, marital status, and whether the couple has any children together. ![]() People may attempt to hide assets, such as money or property, most often upon the breakdown of a relationship.
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