At Dovetail we believe that the collaborative approach to divorce is one of the best ways to achieve the best possible outcomes for both partners. Our divorce specialists are able to help couples part amicably without going to court – collaborative face-to-face meetings are designed to offer a platform for transparent discussion on financial issues.
However, a recent survey carried out on behalf of Co-operative Legal Services suggests that many people going through divorce could be hiding their financial assets from their partners.
Almost of quarter of those questioned for the survey said that they had attempted to hide their financial assets in an effort to ‘keep them secure.’ Researchers said that women were more likely to admit this.
Christina Blacklaws, director of family law at The Co-operative Legal Services, said that couples were legally obliged to divulge financial information and that failure to do so could lead to a jail sentence.
“Married couples are each potentially entitled to a share of the value of any property that either or both own at the time of their divorce. This includes assets acquired before and during the marriage and after separation.
“Lawyers for either party can instruct accountants to go through the financial affairs of a husband or wife whom they suspect has deliberately undervalued their wealth but in many cases it falls to solicitors to try and draw these things out of their clients,” said Christina Blacklaws.