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What Happens When a Spouse Hides Assets in a New Jersey Divorce?

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What Happens When a Spouse Hides Assets in a New Jersey Divorce?

When going through a divorce, one of the most prominent parts is the division of assets between both parties. During this time, assets that are considered marital property can be subject to equitable distribution. While it is understandable that spouses do not want to lose cherished assets, it is never a good idea to hide assets during a divorce. However, there are cases in which people do it anyway. If you believe your spouse is hiding assets in your divorce case, continue reading to learn more and contact an experienced New Jersey divorce attorney for assistance with your case.

How Can Assets be Hidden?

During a divorce, it is important to not take what your spouse says at face value. This is because the reality of the situation is that there could be assets hidden away from you. There are a few ways a spouse can hide assets during a divorce, such as:

  • Overpaying on taxes so they can get the money bak in a refund the following year
  • Asking an employer to delay a promotion or raise until after the divorce
  • Delaying the receipt of a large commission from work
  • Transferring assets to a friend or a separate bank account

How Can I Discover Hidden Assets?

If you suspect your spouse is hiding assets, it can be difficult to know what you have in marital assets. It is because of this that there are ways to locate your assets when you believe your spouse is not being honest. There are many divorce cases in which outside help is retained from other experts. In cases of hidden assets, this may come in handy by hiring a forensic accountant to help find the assets you believe may be missing. The job of a forensic account is to look for unusual transfers or sales and track where money goes to find assets you may not have known exist. 

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If you require experienced legal representation for a matter of Social Security Disability, Supplemental Security Income, Personal Injury, Medical Malpractice, Family law or Legal Malpractice, Siragusa Law Firm is here to help. Contact our firm today to schedule a consultation so we can discuss your case.

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