Can you legally hide money from your spouse?

Can you legally hide money from your spouse?

Whatever the reason, hiding assets, income and debt is not only unethical; it’s also illegal and subject to severe penalties IF discovered. But even so, the burden of proof is often on the spouse with less financial resources (typically the woman) to prove any such unscrupulous behavior.

What is wasteful dissipation of marital property?

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What is a Wasteful Dissipation of Marital Property? The dissipation of marital assets is defined as concealing or wasting marital assets to prevent the other spouse from obtaining his or her share during the divorce process.

Can a spouse take everything in a divorce?

The unfortunate reality is that he/she may certainly try to take everything, or at least an unfair share. The rule is that the community property must be divided 50/50, according to \u201cno fault\u201d principles. Each spouse has a fiduciary duty to disclose all assets (and income, expenses and debts).