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What You Should Do if Your Spouse Hides Assets in a New Jersey Divorce

Whether or not you like your spouse, you can’t defraud him or her. Willful non-disclosure is more than a petty nuisance, it is a crime. If you need help knowing your rights and responsibilities, please read on, then contact our experienced Morris County divorce and separation law firm to learn what you should do if your spouse hides assets in a New Jersey divorce.

How do you prove your spouse is hiding assets in a New Jersey divorce?

Depending on the arrangements in your marriage, you may not be fully apprised of your financial assets, debts and liabilities. According to the laws of New Jersey, it is crucial that both parties understand their financial situation during a divorce. Sadly, it is quite common for a divorcing spouse to attempt to hide assets from the other.  If you suspect your spouse of hiding assets in preparation of, or during the process of a divorce in the Garden State, you, your attorney and possibly a forensic accountant can take the following actions:

  • Hiring a computer expert to explore files on a jointly-owned computer
  • Requesting bank statements, canceled checks and records for all accounts
  • Obtaining credit card and loan statements
  • Contacting your spouse’s employer to get information about 401k and stock accounts
  • Obtaining past income tax returns and looking for any accounts you have no knowledge of or accounts that no longer appear on current returns or filings
  • Searching for inconsistencies in financial information

What penalties does a spouse face for concealing assets during a divorce in New Jersey?

In the state of New Jersey, hiding assets during a divorce can result in fines, a period of time in jail or a term of imprisonment, your attorney resigning from your case, paying for your spouse’s legal bills, forfeiting the entire value of the hidden assets and losing credibility in the eyes of the judge or court overseeing divorce proceedings. The intent of these penalties is to deter either spouse from hiding assets during a divorce.

How can a Morris County divorce attorney help you?

While you are by no means required to engage the services of a legal representative, you would be well advised to reach out to one of our skilled New Jersey divorce attorneys to discuss your next steps. We will help uncover hidden assets, undervalued assets, misstatements of income and anything else. Do not let your former spouse exploit your ignorance. Let us fight back on your behalf. Give us a call today.

Contact our experienced New Jersey firm

If you require strong legal representation for matters related to divorce or family law, Haber Silver Russoniello & Dunn is here to help. We proudly represent clients in Morris County and throughout the state of New Jersey. Contact our firm today to schedule a consultation.

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