Is it illegal to try to hide or give away assets?

Bath_cube

I'm curious as to would it be illegal if a spouse knew or had an idea you would be planning to divorce them and tried to get dirty. Say you had a property you both lived in and they gave your half to a relative or friend or had savings transfered into someone else's name. I have seen a lot of this in the daily mail recently although it seems to be wealthy rather than ordinary people who are doing it. I'm sure I heard that Duncan Bannatyne could be facing jail for transferring savings to a friend?. Would it be illegal to do any of what I have mentioned?.

pphillips

If you try to hide assets in someone else's account when making a financial statement to the court then you could be guilty of perjury or another similar offence under the Fraud Act 2006. If it was a genuine gift you are talking about then you still can't hide it and remember you can only give away your own property and therefore not something that is owned or part owned by your spouse. Even if you don't try to hide the gift, a court may still consider it part of your settlement when dividing up the marital assets.

Sicard

Yes, it's illegal. The rich do it because they can afford very clever avoidance accountants.