Can Hidden Assets Affect Child Support Awards?

Divorce Attorney

One of two things must happen before a court will award child support. First, parents involved in the matter may come to a fair child support agreement over the course of negotiation or medication. If this occurs, the court will review the agreement and sign off on it unless it does not meet certain conditions or provide adequate support for an affected child or children.

Second, a judge may determine what a fair child support award would consist of while taking into account parental assets and income, a child’s needs, expectations for support advanced during the affected parents’ marriage, etc. The judge will then order child support to be paid in a specific amount for a specific period of time accordingly.

In order for either of these processes to work successfully, all parties involved must be forthcoming about their income, assets, debts and special circumstances. When one or both parents hide assets from the court or each other, the process lacks the necessary transparency it needs in order to be fair. Similarly, hiding assets from the other parent after child support has been ordered may make the existing order unfair and ripe for modification.

If you or your child’s other parent is hiding assets either before or after child support has been ordered, the integrity of the process has been compromised. Please consider contacting our firm with any questions you may have so that we may advise you of your legal options. It is important to set the record straight as quickly as possible in order to ensure that your child receives adequate support.

If You Are Hiding Assets

If you are hiding assets from your child’s other parent and the court, the time to come clean is now. You could face serious consequences if you fail to right this situation. In general, financial disclosures are submitted under oath. It is critical to avoid lying to the court if you have not yet submitted disclosures. If you have already done so, please seek legal support so that you can minimize the damage done. Similarly, if you are hiding assets that could make you liable for additional support subject to an existing order, get out ahead of the situation by speaking with an attorney today.

If Your Child’s Other Parent Is Hiding Assets

If you believe that your child’s other parent may be hiding assets, it is important to seek legal support so that you can better ensure that your child receives the support he or she is entitled to. This is true regardless of whether an initial child support has been ordered or not. Child support orders may be modified if significant changes in circumstance (or availability of information previously unknown to the court) could impact a parent’s duty to provide support for his or her child.

Legal Help Is Available

Everyone makes mistakes from time to time. If you are hiding assets from your child’s other parent and the court, let our firm help you straighten out the situation. If your child’s other parent is hiding assets that should be considered in either an initial child support order or a modification, allow us to help your child receive the support he or she is entitled to. Regardless of who is at fault, family lawyers, like a child custody attorney in Frisco, TX, are passionate about helping families move forward in healthy, supported ways.

Thank you to the experts at Scroggins Law Group, PLLC., for their input into family law.

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