One of the hallmarks of property settlement agreements is the requirement for full and fair disclosure of assets and income. The need for full disclosure is self-evident—one cannot knowingly give up a right to an asset or income if they are not aware of its existence.

23 Pa.C.S.A.3505 provides family courts with broad powers to preserve assets in a divorce when one party has failed to disclose an asset or has transferred the asset to a third party for inadequate consideration. The relevant language of the statute provides:

“If a party fails to disclose information required by general rule of the Supreme Court and in consequence thereof an asset or assets with a fair market value of $1,000 or more is omitted from the final distribution of property, the party aggrieved by the nondisclosure may at any time petition the court granting the award to declare the creation of a constructive trust as to all undisclosed assets for the benefit of the parties and their minor or dependent children, if any. The party in whose name the assets are held shall be declared the constructive trustee unless the court designates a different trustee, and the trust may include any terms and conditions the court may determine.”