If you are looking for divorce settlement advice, do you want to know why hiding assets doesn't pay? The law in Scotland relating to separation and divorce settlements requires a split of all property that is 'matrimonial' in nature. Each spouse must openly and honestly disclose all assets held by them as at the date of their separation. Unfortunately, it seems that some people can't resist the temptation to lie or cheat in order to keep at least a portion of those assets to themselves.
A new rule came into effect on 1 August 2012 for the divorce process. In divorce cases with a financial element, whether it is a claim for a capital sum or sale of the matrimonial property, both parties must complete a Form 13A.
This form must be completed by the party raising the action before the action is raised in Court. The form asks for details of matrimonial property and debts as at the relevant date.
What is matrimonial property and debts?
- Matrimonial property is