In an ideal situation, both parties involved in a New Jersey divorce would be upfront and honest about all of their assets and liabilities. Through honesty and effective communication, those assets and liabilities can then be valued and divided accordingly. Unfortunately, this is not always the case. Shortly before filing for divorce or during a difficult divorce, some spouses may attempt to hide their assets to prevent them from being subjected to equitable distribution. In these situations, a seasoned divorce attorney can assemble a team to help track down the missing assets.
Full Asset Disclosure
New Jersey law requires that all parties involved in a divorce disclose all of their assets. While failure to disclose assets can be deliberate, in some cases it can be a simple oversight. Understanding what assets are classified as marital property and what assets are classified as separate property can prevent any unnecessary confusion during the divorce process. Divorcing couples must disclose all of their income, assets, debts, and liabilities including:
- Real estate
- Bank or savings accounts
- Retirement accounts (ie. 401K accounts)
- Business ownerships
- Stock options
- And more
A knowledgeable property division attorney will analyze all aspects of your divorce and ensure that all of your marital assets are properly valued and distributed equitably.
Finding Hidden Assets In Your Divorce
Our property division attorneys are proficient at finding hidden assets using the following methods:
- Performing a formal lifestyle analysis
- Investigating income in the relationship
- Tracking expenses throughout the relationship
Through efficient investigating and examination, our attorneys will not only establish a trail of assets, but also help you protect your rights to these assets. In order to establish this trail, our skilled lawyers utilize outside resources when necessary, including forensic accountants. In cases where accounts, businesses, and real estate must be analyzed, an appraiser may be used to help value the assets in question. In cases where cash earnings are involved, these outside resources prove to be invaluable when performing a lifestyle analysis.
If you believe your spouse is hiding assets in your divorce, in order to reduce your share of the final asset division, it is important to discuss your case with a family law attorney immediately. It is essential to protect your rights and your assets before finalizing your New Jersey divorce. We can help secure your financial future. Schedule an initial legal consultation to find out more. Call us today: (888) 888-0919.