A divorce has many different parts. One of the largest, most notable is the division of assets between both parties in the divorce. This is when the marital assets owned between the two of them will be divided based on the process of equitable distribution. This means the assets are distributed fairly, but not equally. In these situations, spouses can sometimes fear losing cherished assets, leading them to want to hide their assets. However, this is never a good idea. If you believe your spouse is hiding assets, continue reading to learn more and contact an experienced New Jersey divorce attorney for assistance with your case.
How Can Assets be Hidden?
While not all spouses should be believed to be dishonest in a divorce case, it is important to not always take what your partner is telling you at face value. This is because there are some cases in which there are hidden assets that you do not even know exist. The following are different ways that a person can hide assets during a divorce:
- 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?
When a spouse hides assets from you in a divorce, it can be difficult to have a full understanding of what marital assets are in your case. That is why there are different means available in a divorce case to help uncover and locate these missing assets. In certain divorce cases, outside experts may be enlisted in order to assist a case in a variety of ways. In the event of hidden assets, a forensic accountant may be necessary. This job of a forensic accountant is to help find any assets you believe may be missing in your case by looking out for unusual transfers or sales relating to your spouse to track where their money is going. This can help to discover what assets you may not have even known existed.
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Ross and Calandrillo, LLC is a full-service divorce, family, and real estate law firm located in Mountainside, New Jersey. For strong legal representation in all of your divorce or family law matters, contact Ross and Calandrillo, LLC to schedule a consultation.