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Finding Hidden Assets In A New Jersey Divorce

During a divorce in New Jersey, there is supposed to be full disclosure of all financial assets of both sides. The last thing any person would want to believe about their spouse—even during a divorce—is that they intentionally withheld information from them. It is almost understandable that there would be non disclosure when there is a divorce due to abuse, adultery, drug use, alcohol use, abandonment or other reasons. But if non of these instances occurred and  the spouse intentionally misled the husband or wife during the marriage and made a conscious effort to hide assets specifically to keep them out of the husband or wife's hands and out of his or her knowledge, it is a significant betrayal. In a New Jersey divorce, all assets must be known and part of the calculations as to how much the divorce settlement will be. If there are hidden assets, it is important that they be found and made available to be distributed as part of the settlement.

How To Locate Hidden Assets

There are numerous places that a spouse might be able to hide assets without the knowledge of the husband or wife in an effort to keep them. This can be done with secret accounts or investments made with unknown accounts. Places to search for these types of assets are plentiful. Examining tax returns going back a few years might yield some interesting results. There could be inconsistent income, trusts that you did not know about, partnerships, and real estate investments that you did not know existed.

Question Mark

Does the spouse own or partially own a business? If so, there could be inconsistencies in the income from the business on a separate account from the one you were aware of. The business tax returns might indicate alterations to the salary, personal expenses that should have been charged to the business, a larger amount of retention when it comes to earnings than there should have been. Some people have placed a person they call a friend on the payroll who will be paid and return the money to the spouse after the divorce has been finalized. Forensic accountants are able to sift through this type of data and search for inconsistencies or information that simply does not add up.

If you have a shared bank account or credit card account and there are statements, payouts, incoming money or bills accrued that do not make sense, it could be a signal that there is hidden money somewhere. The same holds true for savings accounts if there is an unusual amount of activity that you did not know would be necessary and was not informed was occurring.

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Does your spouse invest in the markets? There might be a brokerage account that you were unaware of in which there are investments being made. If there is money in the account or stocks in the portfolio, you have a right to know about them and receive a portion of them or their worth in the divorce settlement.

Expense accounts can be used to hide money. When there are business expenses, this can sometimes present the opportunity to use money in ways that are not meant for the business. There are signals that this is happening.

Most painfully, some people try to hide money in a children's bank account. No one wants to believe that the spouse with whom they have had a child or children would exploit that fact in such a way, but it is possible that a person trying to hide money would use a child's account to stash it away for later use without the knowledge of the husband or wife.

Call An Experienced New Jersey Divorce Lawyer

Even when a marriage has failed and the union is ending in divorce, the last thing you want to believe is that your soon-to-be former husband or wife was intentionally keeping money from you in an effort to have it all for him or herself, but it happens quite often. Not only is it morally wrong, but it is illegal as well if the assets are not disclosed during the divorce.

If you or a loved one are in the process of a divorce in Monmouth County, Ocean County or anywhere else in New Jersey and you suspect your spouse of hiding assets to avoid having to share them, it is important to know the truth and find these assets. When trying to find hidden assets, the attorneys at the Law Firm of Villani & DeLuca, P.C. in Point Pleasant Beach, New Jersey can help you.

Whether you are from Wall Township, Brielle, Colts Neck, Rumson or any other town in New Jersey, Villani & DeLuca, P.C. can assist you in finding hidden assets to ensure that your receive an equitable settlement in a divorce. Call 732-751-4991 today to discuss your case.

Vincent DeLuca, Esq.

As a founding partner at Villani & DeLuca, Vincent DeLuca is one of only a few Certified Matrimonial Law Attorney in Ocean County, New Jersey. Mr. DeLuca has helped many clients navigate the delicate details of their own divorce. Mr. DeLuca is also a trained divorce mediator and collaborative divorce attorney. Call today at (732) 751-4991 to speak to Mr. DeLuca or one of our experienced NJ Divorce Lawyers.