Hidden assets in divorce can be uncovered in discovery process | Lane & Lane, LLC
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Hidden assets in divorce can be uncovered in discovery process

In some New Jersey marriages, spouses have insight into the finances of each other, making the process of property division, alimony and child support easier in the event of a divorce. However, there are those who have concealed assets, and the law requires full disclosure during divorce. Information about the assets of both parties can then be obtained through a process called discovery.

In order to reach a fair settlement agreement, open disclosure of all relevant information is vital. The discovery process is often started by interrogatories given to each party, containing a series of questions to be answered within a specified time; many times, copies of documents must be provided as part of the process. Another discovery tool is  referred to as a deposition, where each spouse may be questioned by the attorney for the other spouse. Depositions are done under oath in the presence of the parties and their attorneys, and the proceedings are typically transcribed for use at trial, if necessary.

Subpoenas may be served on employers, investment companies and banks, among other entities. They can even be served on individuals who may have relevant information. In cases in which the physical or mental evaluation of children is required, discovery can be used to obtain information from schools, physicians and other professionals. Concealment or false information during the discovery process is punishable by fines, and even an order to pay the attorney's fees of the other party.

Regardless of how amicable a New Jersey divorce is, the process will always be challenging. For this reason, most divorcing spouses retain the services of experienced divorce attorneys. With professional guidance, an individual can navigate the various legal procedures with confidence in knowing that his or her rights and interests will be protected.

Source: wotv4women.com, "Discovery during divorce: What it means for you", Gail Saukas, Feb. 15, 2016

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