Divorce cases are all unique in their way. However, certain aspects of the process are common to everyone who files for divorce in Alaska. One of those aspects is the division of assets, for which both individuals must exchange information on all financial assets and liabilities.
Hiding assets is illegal
Any party in a divorce will consider various strategies to protect themselves and what they care about the most. Sometimes, people will go to extremes and hide their assets, thinking the other party or the court will never find out.
Hiding assets in a divorce is one of the most detrimental actions you can take during a divorce. Not only does everything usually come to light, but hiding assets is illegal and unethical. You will lose credibility in court and face harsh penalties and sanctions if discovered.
Allow your attorney to guide you
The best thing you can do in a divorce is to be completely honest and transparent with your attorney and provide them with everything they require or are required by the court.
Expect a full financial disclosure because that is the starting point of the division of assets. When the attorneys have all the information, they can begin the negotiation process.
Start the process right
Unexpected complications can arise during a divorce, especially when the parties make mistakes that could have been avoided. These complications can be costly and create an adversarial relationship with everyone involved.
Instead of hiding assets, work with your attorney to devise a legal strategy to benefit you while acting in good faith. It is in your best interest to do so.