By Pierce Blitch
Going through a divorce is challenging, and wanting a fair share of assets is natural. However, some spouses in Georgia and beyond might take steps to hide property to keep it out of the divorce settlement. This practice, although illegal, happens frequently.
High-Profile Case of Hidden Assets
The divorce of billionaire Harry Macklowe made headlines, not just for his immense wealth but for his alleged actions to retain it. Married to his wife for 58 years and separated for years, the couple owned an art collection valued at around $1 billion, which was divided in their divorce. Reports suggested Macklowe might be selling pieces of this art to hide the proceeds.
Allegations like these, if true, and if the other party’s legal team could prove it, would expose the hiding party to severe financial penalties and even criminal charges. So, is hiding assets worth the risk? The answer is clear: it is not.
The Right Way to Handle Property Division
Property division in divorce is often contentious. At its core, there is a right way and a wrong way to approach it. Hiding assets typically causes more harm than good. An experienced family law attorney can help those undergoing divorce in Georgia to take the correct steps to secure the property settlements they desire.
CALL THE Blitch Law Firm ATTORNEYS AT LAW TODAY TO DISCUSS YOUR FAMILY LAW MATTER
We fight for you, and we don’t back down. Every family law case has potentially life-altering consequences. We don’t hold back on providing our clients with the best possible representation. At The Blitch Law Firm, we understand the emotional and financial toll a family law case can take. If you, a family member, or a close friend are facing a divorce, child custody dispute, or any other family law issue, contact The Blitch Law Firm today at 706-434-8770 or visit us at 7004 Evans Town Center Blvd., Third Floor, Evans, Georgia 30809 to discuss your unique case and our dedicated family law strategies with one of our compassionate and experienced attorneys.
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