Common reasons to suspect hidden assets in divorce | Lane & Lane, LLC
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Common reasons to suspect hidden assets in divorce

Ending a marriage is an emotionally and financially complex process, and it can be especially difficult when one party is attempting to hide assets from the other. When a New Jersey couple determines divorce is the appropriate step for them, each party is required to give a full financial disclosure. This step ensures that the two sides each receive an equitable share of both marital property and debt shared by both spouses.

Hidden assets can lead to lopsided and unfair financial orders. When a person suspects that his or her spouse is attempting to hide money or assets for personal benefit, that person has the right to take legal steps to locate and appropriately value these assets. People attempt to move and hide assets by denying they have them, allowing a third-party to have them for a time or acting as though they lost those specific assets.

One of the most efficient ways to locate hidden assets is to carefully inventory everything of value. This can include things such as real estate, bank accounts and even retirement savings. Reviewing all documents can help a person see if there is reason to suspect hidden assets, especially if the other spouse exhibits suspicious behavior.

Attempting to hide assets in a divorce is unacceptable. It is unfair and illegal, and the spouse that believes this is happening may find it beneficial to take immediate action to protect his or her long-term financial interests. One step in this process includes seeking the counsel of a New Jersey family law attorney experienced in financially complex divorces.

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