We often get calls regarding "divorce planning", a/k/a "How do I hide assets?"

First, plainly and clearly:  You can’t hide assets for a myriad of reasons.  

If the misrepresentation takes place in a litigation setting, the failure to disclose assets brings to bear many different consequences, ranging from incurring the ire of the Court to potentially (but not usually) perjury charges.

In negotiating a pre-nuptial agreement or a property settlement agreement, Pennsylvania law requires parties to make full and fair disclosure of their assets. Stoner v. Stoner, 819 A.2d 529 (Pa. 2003); Simeone v. Simeone, 581 A.2d 162 (Pa. 1990). 

So what does that mean?  "Full and fair disclosure" is case specific, but each party to a marital agreement must disclose in full his or her respective assets to enable the other party to make an “intelligent decision” concerning the rights that they will give up under the terms of the agreement. Nitkiewicz v. Nitkiewicz, 535 A.2d 664, 667 (Pa. Super. 1988); Paroly v. Paroly, 876 A.2d 1061, 1066 (Pa. Super. 2005). 

As a practice tip, the courts likely will not invalidate a pre-nuptial agreement where you have overstated your assets, so err on the side of caution when disclosing your assets for a pre-nuptial agreement. 

The consequences for failing to disclose your assets in full?  Worst case — costly litigation, time, damages (compensatory and punitive), and counsel fees (your own and, maybe, your spouse’s).  So, to avoid extensive litigation in the future, make sure that you fully disclose your assets in court and/or in the context of the execution of a marital contract.