QUESTION
If I do not disclose a bank account in divorce can the court find it? What if I forgot about the account?
Asked on Dec 17th, 2012 on Divorce - California
More details to this question:
Since separating from my wife, I have saved a few thousand dollars. Can the court find this money if I do not report it on the mandatory reporting form?
12 ANSWERS
The court retains jurisdiction of this very issue and can sanction a party with attorney fees for failure to disclose all assets regardless of the reason. You have a duty of good faith due diligence to disclose all assets.
Answered on Dec 19th, 2012 at 5:09 AM
You must disclose assets accumulated during the marriage and report them as of the date of separation. Post separation savings are not community. You should consult a family law attorney to review the facts and advise you.
Answered on Dec 18th, 2012 at 1:42 PM
The court does not "look" for assets; however, it might be discovered by the other party. If you "forgot" about the account, it should be disclosed, and if it contains community property assets, it should be divided. if the account contains only separate property assets, then it can be confirmed to you. I recommend you consult with an attorney to determine the nature of the funds.
Answered on Dec 18th, 2012 at 1:41 PM
Family Law Attorney serving West Bloomfield, MI
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Law Offices of Eugene Lumberg and Eric S. Lumberg
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If you fail to disclose during discovery you can be liable for the entire amount. Consult with an attorney to discuss this issue further.
Answered on Dec 18th, 2012 at 1:41 PM
Professional Liability Attorney serving Brookline, MA
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Law Office of Robert Stolzberg
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If you hide assets that can be considered fraud or perjury and can be the grounds for changing the divorce decree or a criminal charge against you.
Answered on Dec 18th, 2012 at 1:40 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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In my jurisdiction, if the court finds an account or as a which has not been disclosed intentionally, as is the case here, it awards it 100% to the other party.
Answered on Dec 18th, 2012 at 1:40 PM
Civil Attorney serving Spokane, WA
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Glenn E. Tanner, Attorney at Law
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Why not reveal it. It's your separate money.? If you don't reveal and are caught, you will have committed perjury.
Answered on Dec 18th, 2012 at 7:11 AM
Divorce/Family Law Attorney serving Carlsbad, CA
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Anne B. Howard, A Professional Law Corporation
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If you get caught, your wife can go after 100% of the account and possibly get attorney fees from you for committing fraud. It's not worth it. If you earned the money after you separated, it's your separate property anyway, so there's no harm in disclosing it. It's your money. It's the lying that the court would have a problem with.
Answered on Dec 18th, 2012 at 7:03 AM
3 Awards
The court won't search for it, but the other attorney may. Be careful, you could be subject to sanctions, especially if you sign an Inventory of your marital property in preparation of equitable distribution.
Answered on Dec 18th, 2012 at 6:57 AM
William R. Pelger, Attorney Munhall, Pennsylvania 412-461-1900
You should file an amended Schedule of Assets and Debts before t is too late. Disclose the savings which would be considered separate property if it was earned after separation. If you do not disclose it now, and it is found after final judgment, you may be forced to disgorge the entire asset to your wife - by law.
Answered on Dec 18th, 2012 at 6:57 AM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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The court won't find it, but her attorney will. If you are asked in interrogatories for all information and you do not disclose it, you have violated a court order and could be held in contempt. This means that the court could fine you up to $5000 and hold you in jail for a while. Is it worth it?
Answered on Dec 18th, 2012 at 6:23 AM
Business Attorney serving Newport Beach, CA
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NextGen Business & Wealth Preservation
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If the money saved in that account was earned after separation, then the spouse is not entitled to it. But it should be disclosed and listed as separate property in any event.
Answered on Dec 18th, 2012 at 6:13 AM