Hiding assets in a divorce – just not worth it

Unlike other civil litigation matters, there is standard discovery required under the Family Court Rules of Practice and Procedure (FCRPP) in Kentucky. The rules require that the Preliminary Verified Disclosure Statement be exchanged by each party in a divorce which can be accessed here: Preliminary Disclosure AOC 238. This must be exchanged early in the litigation. If the divorce ends up going to a final hearing instead of settling, then the AOC 239 needs to be exchanged. This is the Final Verified Disclosure Statement. Each of these are completed under oath.

Some judges, such as some of the Fayette County Family Court judges, allow the Preliminary disclosure to be waived while other judges, such as in Woodford, Scott and Bourbon Counties, require the Preliminary disclosure to be submitted no matter what (which is strictly in keeping with the rule). While this is the minimal required disclosure to be produced, it does not preclude requesting other discovery under the Rules of Civil Procedure.

Sometimes people are tempted to leave assets off of these disclosures. This just seems silly to me. The other party nearly always discovers the omission. If assets are hidden, then that provides grounds for any settlement or judgment entered to be set aside and tends to piss off the judge.

This entry was posted in Discovery, Distribution of property, Divorce / Dissolution of Marriage, Evidence, Family Law and tagged , , , , . Bookmark the permalink.

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