California Family Law Firm Advises Against Hiding Lottery Assets From Your Spouse in a Divorce
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Whittier, CA (PRWEB) July 24, 2008 -- Deliberately hiding assets like lottery winnings from your spouse during a California divorce will cost you, according to California family law attorney Dennis Schuster, founder of Schuster Family Law.
"When you get a divorce in California, one of the things you have to do is to file a Declaration of Disclosure," said Schuster. "This document discloses all of the property you own and all of the income and expenses you've had for the past 12 months. If the court finds that you've deliberately failed to disclose an asset, the court can award the entire asset to your ex.
"I personally know of a case where a woman won $1.3 million in the lottery and deliberately failed to report it during her divorce. After the divorce was final, the husband found out about the lottery win and went to the court. The court awarded the entire $1.3 million to this woman's ex. If she had disclosed it in the Declaration of Disclosure during the divorce, she probably could have kept half of it. Instead she got nothing."
About Schuster Family Law:
Schuster Family Law is a California family law firm that does estate planning and handles divorce and adoption cases. Schuster is also developing a unique niche in representing parents whose children need special education. For more information, visit: www.schusterfamilylaw.com
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