MYTH: If I transfer my assets to a third party the Court cannot touch them in a divorce
REALITY: If assets are removed or transferred to a third party during divorce proceedings, the Court can order for those assets to be added back to the ‘matrimonial pot’. They can also order that any transaction to dissipate assets is unravelled. As both parties are required to provide full financial disclosure, it is very unlikely, especially under the eye of a trained solicitor, that the transfer of such assets would go unnoticed. If parties attempt to conceal assets during financial proceedings, the Court will take a very dim view of this.
For more information or advice, please get in touch with the Family team.
These notes have been prepared for the purpose of articles only. They should not be regarded as a substitute for taking legal advice