There are three primary ways that couples arrange to divide their assets during divorce. Some couples have prenuptial agreements that clearly outline how they should divide their property. Others negotiate with one another to settle property division matters amicably before filing for divorce.
Occasionally, spouses have to go to court to litigate property division matters. A judge makes the final determination about how to divide the assets and debts of the couple in a contested or litigated property division scenario.
Most of the time, the property division decree approved by the courts is the final say on the matter. No matter how dissatisfied the spouses are, they cannot challenge or revise the decree approved by a judge. However, there is one notable exception to that rule.
Hidden assets can lead to revised decrees
In any of the different property division solutions aligned above, one spouse might try to manipulate the process by misrepresenting their assets. They may siphon funds from a shared account or physically hide valuable property.
Ideally, one spouse identifies the hidden assets of the other before they move forward with the divorce process. However, that is not always what happens. Sometimes hidden property comes to light long after the courts finalize the divorce.
A spouse who discovers valuable hidden property that their spouse did not disclose to them or the courts could present information about those assets to the courts and request a review of the property division decree. Family law judges can penalize a spouse who intentionally hid their resources and misrepresented their financial circumstances to manipulate the outcome of divorce proceedings.
If the courts agree that misconduct occurred, the spouse requesting the review could receive more of the marital estate. In particularly egregious cases, judges might even award the full value of the hidden assets to the spouse denied their share of those resources during the divorce.
It can be very difficult to modify a property division decree after the finalization of a divorce. It is almost always better to uncover hidden assets and other misconduct before finalizing a divorce.
Reviewing financial records carefully with a skilled legal team and having the right assistance can improve the chances of securing reasonable property division decrees during divorce proceedings. Those who question the accuracy of disclosures or the fairness of a property division decree may need to discuss their situation with an attorney to learn about their options.