The issue of dividing assets is often one of the more contentious issues to resolve if divorce proceedings are not amicable.
If one spouse is feeling angry or resentful, they might be tempted to hide assets from the other.
Thailand divorce attorney, Jiraporn Thongpong explains, “concealment of marital assets occurs when one spouse, either before or during the divorce proceedings, takes action to hide or “use up” marital property such as removing possessions from the home or spending money in joint bank accounts”.
If this is a concern or issue, then it is important to take independent legal advice as soon as possible to protect your position.
A millionaire dentist who defeated her ex-husband’s “controlling” mother in a £10million court battle broke her silence over the bitter feud after the hearing concluded on Monday 28 October 2013 reports The London Standard .
Dr Anushika Sharma and her family set up Aspire Dental Care Limited (ADC) which Dr Sharma, as sole director, helped grow into a successful business. The company shares were to be split in quarters between Dr Sharma, her mother-in-law, her husband and his brother, Raj.
However she found the “interference” of her dominant mother-in-law too much and broke away to establish five highly successful practices of her own. During the divorce proceedings, her husband’s family tried to argue that 75% of these business belonged to them, but the Court of Appeal disagreed.
In our experience, divorce proceedings can often turn nasty when it comes to dividing joint assets. In a Thailand divorce, any community property is considered joint, but we have seen this lead to arguments even between otherwise amicable divorcing spouses.