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Survey reveals divorcing couples more likely to hide assets

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Entitled, 'For richer, for poorer', and with the sub-heading, 'What’s yours is mine, and what’s mine is out of sight', the 8th annual survey from Grant Thornton on matrimonial law reveals that forty-eight per cent of family lawyers believe that individuals are likely to conceal assets during divorce proceedings, whilst a further thirty-five per cent consider it a possibility. 

The survey canvassed the top 101 of what are termed 'the UK's leading family lawyers' based on their client work in 2010.

Concealment of assets in divorce

Thirty per cent of respondents were concerned about the effect of the Court of Appeal judgment in Tchenguiz v Imerman, that clients would no longer be able to obtain fair settlements due to undisclosed assets, with sixty-one per cent believing the ruling will lead to more assets remaining undisclosed.

Reasons for divorce

Extra-marital affairs are no longer the most common reason for divorce. It has now been replaced by parties who say that they have grown apart or fallen out of love.

Divorce in a recession

Eighty-two per cent of the lawyers canvassed claimed that people were delaying divorce proceedings because of the recession, with a majority stating that the current low value of assets was the greatest reason for this delay. 

Pre-nuptials more popular

Following the Supreme Court's decision in Radmacher v Granatino, fifty-nine per cent of those surveyed said they were experiencing greater demand for pre-nuptials.

Contacting us

For more information and to talk to a family law solicitor about your individual circumstances contact us today using the details provided below.

Please note that the information and opinions contained in this article are not intended to be comprehensive, nor to provide legal advice. No responsibility for its accuracy or correctness is assumed by Pearson Solicitors and Financial Advisers Ltd or any of its members or employees. Professional legal advice should be obtained before taking, or refraining from taking, any action as a result of this article.

This blog was posted some time ago and its contents may now be out of date. For the latest legal position relating to these issues, get in touch with the author - or make an enquiry now.

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