Hidden Assets in Divorce and Financial Proceedings Solicitors

Our Hidden Assets Solicitors understand the emotional toll that divorce or financial settlements can take on a person. When assets are concealed, it can make the process infinitely more difficult.

If assets are hidden, the court will not receive the correct information. This may affect your settlement and result in an unfair division of assets. Both parties have a legal responsibility to fully disclose all of their assets.

Our expert team of Family Law solicitors are experienced in investigating hidden assets, to secure you the best possible outcome in court. If you are concerned that assets are not being disclosed, please contact us on 0333 240 7373 or email info@reeds.co.uk.

Why Choose Reeds?

Our expert Family Law team can advise and instruct other parties to investigate hidden assets, or seek an order from the Court for third party disclosure.

The starting point of dealing with finances is voluntary financial disclosure (Form E), which we will assist you in completing. We will then set an exchange date with the other party. Both you and your ex-spouse have a duty to provide full and frank disclosure of assets and income. Our team then look at the assets and will raise any necessary questions with the other side and request further information.

Although rare, if it is needed, our solicitors can appoint forensic accountants who would analyse bank statements to identify whether the income and expenditure align.

By instructing our Hidden Assets Solicitors, you can be sure that your case will be treated with the utmost care and respect. We will continue to advocate for you so you can rest assured that you are being treated fairly by everyone involved in this stressful process.

Our expert team of Family Law solicitors are experienced in investigating hidden assets, to secure you the best possible outcome in court. If you are concerned that assets are not being disclosed, please contact us on 0333 240 7373 or email info@reeds.co.uk.

 

Meet the team

How We Can Help

Our Family Law and Care Proceedings team include accredited members of the Law Society’s Children’s Panel and members of Resolution. All have extensive experience and expertise in family matters, with some having contributed to published books and articles. Our Care Proceedings Solicitors are instructed by members of the public, professional agencies such as CAFCASS, and Local Authorities.

 

We will be firm when it comes to protecting your rights, the best interests of your children, and achieving the best outcome. We believe family law is ultimately about people and we understand how difficult and emotional matters such as divorce, making arrangements for children on separation and care proceedings  can be. We will be there to support you and guide you through your legal journey and provide you with legal advice and representation you can trust.

 

Some family law matters, such as obtaining injunctions,, require speed and tenacity to ensure you are protected. Our Divorce Solicitors are familiar with common tactics used to stall financial settlement proceedings, especially in international and high-net-worth divorces. They will proactively enact strategies to ensure your case keeps moving forward.

Our Family Law Solicitors can help you with a full range of family matters, including but not limited to divorce, high net worth divorce, children’s law, care proceedings and PLO meetings, child abduction, Non-Molestation Orders and Occupation Orders, and TOLATA cases.

Family law matters, especially those involving children, can be extremely sensitive. Rest assured, all discussions and information shared with our team are strictly confidential. Your privacy and reputation are paramount to us.

 

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FAQ

In UK Family Law, hidden assets refer to property, income, or financial resources that one party deliberately conceals from the other. It typically occurs during divorce or financial settlement proceedings. A party may attempt to hide their assets to reduce the amount they share with the second party. This is a criminal offence.

If your divorce or financial settlement is complete, it can be extremely distressing to discover that your ex-spouse has hidden assets. Luckily, it’s not too late. The first step is to contact one of our solicitors.

There may be cost consequences for the party who is not providing full and frank disclosure. In some cases, if the hidden assets are significant, the court may re-open the case.

often cause the most rifts during a divorce process. It’s important to know exactly what you need to disclose to achieve a fair process.

Financial:

Both parties must submit a financial disclosure document known as Form E. This may include the following:

    • 12 months of bank statements

    • Pension information

    • Evidence of income (such as payslips, P60s, tax returns)

    • Details of any investments, shares, or other policies

    • Details of any liabilities

    • Business interests

    • Any trusts or offshore investments

    • Holiday homes, either abroad or in the UK

    • Inheritance

    • Any debts

Assets:

    • Property valuations

    • Mortgages

    • Cars

If you are unsure what you need to disclose, contact us immediately. Each situation is unique and depends on the assets each party owns.

Perhaps the most common asset that is hidden is finances. This can be done by transferring money to friends, family or off-shore accounts. People may also try to falsify debts, invoices or purposefully underestimate or devalue their finances. Finances can also include Cryptocurrencies, which must be declared.

Items worth significant financial worth, such as jewellery or gold bars, can also be hidden. As well as property, cars or other high-worth material assets.

If a party is found to have hidden assets before or during the process, then any settlement may be re-negotiated or set aside. The Court can then re-divide the assets based on the true information.

Any assets that are transferred within three years of a divorce may be regarded as an improper transaction.

Hiding assets in family court can be punishable by fines or imprisonment if the Court ordered disclosure has not been complied with. For example, the person hiding the assets may be required to pay the other party’s litigation costs.

Depending on the situation, there can be numerous outcomes from your spouse hiding assets, with the most extreme cases resulting in potential imprisonment.

If you believe that assets are being hidden, it is vital that you contact one of our solicitors immediately. Attempting to investigate it yourself can result in civil or criminal penalties.

There are numerous ways in which a person may hide, or attempt to hide, their assets. Here are four of the most common ways people may do this:

    1. Moving money: unexplained withdrawals or moving large amounts of money may be a sign that someone is hiding their assets

    1. Undervaluation: purposefully undervaluing property or business

    1. Unexplained accounts: cryptocurrency, undisclosed accounts or offshore holdings

    1. Fictious debts: it is possible to fabricate loans or invoices to create the appearance of fewer assets.

Yes. UK divorce proceedings work off ‘full and frank disclosure’. If it is found that a person has hidden assets, they will have committed contempt of court or even fraud.

There is no single penalty for hiding assets; the court has several routes to go down when dealing with concealed assets. Some consequences the court can enforce are:

    • Restarting the process

    • Ordering a different settlement

    • Ordering the person to pay for all legal costs

    • A fine

    • Imprisonment (although possible, this is extremely rare)

A freezing order may be used when there is evidenced risk of dissipation of assets. When a freezing order is granted, the defendant cannot hide or move any assets before a decision has been made.

Freezing orders are incredibly complicated and an application must be prepared with the utmost detail and correct process. To apply for or challenge a freezing order, it is vital that you contact one of our solicitors immediately.