Protecting Individuals, Families And Children Every Step Of The Way

For More Than 20 Years
Photo of Lisa A. Ruggieri P.C.
  1. Home
  2.  » 
  3. Divorce
  4.  » Hiding assets in a Massachusetts divorce has serious consequences

Hiding assets in a Massachusetts divorce has serious consequences

On Behalf of | Nov 30, 2012 | Divorce

When it comes to divorce in Massachusetts, while it can certainly be confusing, one easy to comprehend rule is that everything related to finances must be fully disclosed. This means every single asset — purchased together or otherwise — and every single debt — again, together or otherwise — is supposed to be listed by each spouse on the financial affidavit.

What this means is that if someone hides, understates or overstates assets, as well as any marital property, debt, income or expense, it is against the law. In some extreme cases, this can even lead to someone being sentenced to serve time in jail.

In past cases, hiding assets has also come back to really bite spouses. In one case, a woman who won more than $1 million in the lottery ended up having to turn her winnings over to her ex-husband. This was after she purposely hid the $1.3 million asset during the trial period of their divorce.

In other cases, judges have decided to have the spouse who hid the assets pay the other’s attorney fees; and claims have also even been dismissed based on the fact that one spouse purposely violated the law.

In Massachusetts, when it comes to property division, it is an “equitable division” state. In basic terms, this means all assets and debts are identified, valued and divided. However, it does not mean everything is split right down the middle and argument can be made in court as to why and how certain assets should be divided.

Due to the fact that assets are not just split 50/50, it’s imperative for anyone going through a divorce in Massachusetts to seek out legal representation.

Source: Forbes, “What Are the Consequences Of Hiding Assets During Divorce?” Jeff Landers, Nov. 14, 2012

5 Star Reviews

A Superb Lawyer!

Lisa guided me through the divorce process and helped me obtain my desired outcome. Throughout the entire process, she helped make the process as painless as possible. Lisa is truly a super lawyer who will be an asset to anyone that utilizes her knowledge, experience, dedication and abilities!

– Eric E.

Successfully Settled My Case With Just One Court Appearance

My ex husband is an attorney and I knew I needed a top notch attorney on my side in order to secure a favorable outcome. In less than a month, from start to finish, Attorney Ruggieri successfully settled my case with just one court appearance.

– Carol K.

All Of The Online Reviews Of Attorney Lisa Ruggieri Are True!

All of the online reviews of Attorney Lisa Ruggieri are true! If you need top-notch legal advice to land you on your feet post-divorce, I would highly recommend the Law Offices of Lisa Ruggieri. Lisa is very knowledgeable and draws a strong line around defending and protecting her clients.

– Eugenia Z.

She Was Aggressive And Never Backed Down

I found Lisa through reviews and was not disappointed. Lisa and her staff were great! They were very supportive and explained everything. She was aggressive and never backed down, even when I wanted to settle. She always looked out for my best interest, even when I didn’t want to. I can’t recall a single debate she lost during the entire case. If I were ever in a similar situation again (which will not be anytime in the foreseeable future!), I would call Lisa.

– Erik T.