Amidst the ongoing divorce between Kelsey Grammer and Camille Grammer, it was discovered that Kelsey attempted to conceal the purchase of a $6.5 million New York City apartment. Kelsey bought the apartment to share with his 28-year old girlfriend. Apparently, Kelsey was adamant in not letting anyone know that he bought the property that he made people sign a confidentiality agreement. His ex-wife, Camille, is reportedly “bitter” and distraught over the acquistion and his attempt to conceal the purchase of the property.
Kelsey’s conduct is a big “no-no” in the world of family law. In fact, his failure to disclose a material asset has severe consequences. For one, the disclosure of said asset must be set forth on the Schedule of Assets and Debts, whether acquired before or atter separation. Failure to do so could result in a set aside of the final Judgment if later down the line, the other spouse discovers the existence of said omitted asset. Secondly, Kelsey’s conduct is a breach of his fiduciary duty to the community. Additionally, the court could impose sanctions and order he pay a portion of Camille’s attorney fees and costs due to his bad faith conduct of failng to disclose a material asset. Regardless, the lesson to be learned is to disclose all assets and debts acquired before, during and after marriage.
Contact an Orange County divorce lawyer for more information on how to proceed with a divorce.