Why Is Full Disclosure Crucial Whenever a Marriage Dissolves?
When a marriage is unfortunate enough to end in acrimony, both parties will likely enter new territory and be very unsure about their paths ahead. After all, it's unlikely either one of them has been through such a bad experience before. When this happens, people can often take actions now that they may come to regret later, especially when it comes to looking after their interests and trying to secure their future. Why is it very important to be not only completely open and honest here, but also to disclose every single pertinent fact?
Smoke and Mirrors
If a marriage ends in dispute, both parties will likely have to stake their claim and pursue their objectives strongly, whether that means custody of the children or dissolution of joint assets. Of course, these are very emotive subjects, and the individual in question can often feel as if their entire life is in turmoil and their future in doubt. When this happens, bad decisions can be made, and certain salient facts can be either withheld or misstated., which will often lead to an even worse outcome for the person in question.
Muddying the Waters
For example, where significant assets may be involved it's not unusual for some of these to be held in offshore accounts or within financial vehicles that may not be readily apparent. A web of companies could have been set up, within which sizeable assets are contained, and the individual may purposefully choose not to indicate the path to those assets. The court will take a dim view of this and is likely to be punitive when a decision is made. This is why it's always best to be fully transparent and even to include certain matters of information that may not even be relevant, just in case.
Following the Trail
Sometimes, the other party may be suspicious that the "ex" has not fully disclosed all their assets, or may even be taking steps to hide them even more. In this case, it's best to bring in some specialists to follow the paper trail, or even forensic accountants who can help get to the bottom of it.
Unravelling the Past
Furthermore, sometimes an individual may want to hide some details from their past so that they will qualify for custody of the children. It is in everyone's interests, however, that all of that detail be disclosed, and the other party may want to engage a solicitor specialising in family law to ensure that this happens.
Contact family law solicitors for additional information.