What happens if one spouse has been found to be hiding a significant asset, such as stock or a concealed bank account?
If it’s determined after a divorce has been completed that one spouse hid assets, the entire divorce can be reopened. This may also occur while the divorce is pending. In either scenario, the offending party may be subject to a contempt charge and be responsible for attorney and other fees incurred to uncover the asset, reopen the case, and bring this information to the court’s attention. Judges have many tools at their disposal to punish a party for contempt, including fines, attorney fees and even incarceration.