Last week, CBC Web Writer Bethany Lindsay highlighted a real-life example of how the "truth will out" in family law disputes.
The article's focus was the recent BC Supreme Court decision in Sangha v. Sangha, a case resulting from a husband's fraudulently concealment of millions of dollars in assets to negotiate a favourable settlement with his wife. When Ms. Sangha became aware of her ex-husband's deceit years later, she re-opened the case and was awarded over $1 million. Some of that money was payable to her immediately by Mr. Sangha, irrespective of whether this caused him any hardship or negative tax implications.
The family law moral of this story is that only when both parties have fully and honestly disclosed their financial situation is the foundation laid for an enforceable settlement. Without that transparency, the settlement is extremely vulnerable to court intervention or undoing of the terms.