Articles Posted in Omitted Assets

Three ring Binders

                            

If you have recently gone through a divorce, you know how much paperwork was involved. Unfortunately, sometimes in the rapid exchange of all these files, documents, and disclosures, things get missed. An omission typically happens when one or both parties are self-represented, but not always. And while an omission is often inadvertent—an honest mistake—other times one party intentionally hid assets from the other. If you find yourself in such a situation, there are a few things to know. 

First, let’s get some legalese out of the way. Do not worry, we will explain what this means in plain English in just a moment. But here is what the California Family Code has to say about omitted assets:

In a proceeding for dissolution of marriage, for nullity of marriage, or for legal separation of the parties, the court has continuing jurisdiction to award community estate assets or community estate liabilities to the parties that have not been previously adjudicated by a judgment in the proceeding.

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