Being ‘less than honest’ could cost you significantly
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Once again the Courts are taking a hard line with spouses who are less than honest when disclosing financial information during Divorce.
The latest case to hit the headlines is of DIY entrepreneur James Goddard-Watts, founder of Screwfix. James and his wife Julia divorced six years ago but after the final financial order was made, Julia was not convinced that James had given full and frank disclosure about this assets.
Last week the Court of Appeal upheld a decision to reopen the case commenting that James had deliberately concealed his wealth. This clearly shows that the courts are intolerant of spouses who seek to conceal their wealth and I suspect that in addition to a new financial order being made, the court will be easily persuaded to make an order that James pays his wife’s costs of the litigation.
I would advise that everyone get legal advice to avoid getting into this situation.
We, at Berlad Graham LLP, have experts to help you. Being up front and honest, in the long run, could save you money.