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Knowing Where to Look to Uncover Hidden Assets During Divorce

One of the first steps a person may take upon making the decision to dissolve a marriage pertains to identifying and obtaining the value of all marital assets. Any assets that remain hidden throughout the process of divorce could impact the outcome of the situation substantially. However, for many individuals in New Jersey, knowing where to look for hidden assets might not always be an easy task.

In situations where one feels that a spouse is attempting to hide assets during a divorce, a person may feel it vital to enlist the services of a third party to locate these assets. However, this might not always be necessary and there could be certain places to look that may help a person identify assets that were previously hidden. For instance, experts suggest that in some cases, individuals who wish to identify all marital assets prior to entering legal proceedings need to look no further than recent tax records.

Tax filings may hold records of mutual funds and financial accounts one may have previously been unaware of. These records may also show gains and losses from stocks and fund shares. Checking recent tax filings could also help a person uncover income from the sale of stocks or bonds, or even revenue from rental properties or business endeavors.

Unfortunately, knowing where to look might only be half the battle, and knowing what to look for may also be vital. For guidance on how to uncover the presence of hidden assets in a divorce, a person in New Jersey could benefit from speaking with a family law attorney early in the process. An attorney can help a client gain a better understanding of how to identify and value all marital assets and assist him or her in pursuing a fair and equitable portion during subsequent legal proceedings.