Depending on the arrangements in your marriage, you may not be fully apprised of your financial assets, debts and liabilities. According to the laws of New Jersey, it is crucial that both parties understand their financial situation during a divorce. Sadly, it is quite common for a divorcing spouse to attempt to hide assets from the other. If you need help knowing your rights and responsibilities, please read on, then contact one of our experienced Hudson County divorce attorneys to learn what happens when a spouse hides assets in a New Jersey divorce.
What are the consequences of concealing assets during a divorce in New Jersey?
No matter how you may like or dislike your spouse, you are not allowed to defraud him or her. Willful non-disclosure can be punished. In the state of New Jersey, hiding assets during a divorce can result in the following penalties:
- Fines
- Time in jail or a term of imprisonment
- Your attorney resigning from your case
- Being required to pay for your spouse’s legal bills
- Losing credibility in the eyes of the judge or court overseeing divorce proceedings
The intent of these penalties is to deter either spouse who may be thinking about hiding assets during a divorce.
How can you prove your spouse is hiding assets in a divorce in New Jersey?
If you suspect your spouse of hiding assets in preparation of, or during the process of a divorce in the Garden State, you can request bank statements, canceled checks and records for all accounts. You can also obtain credit card and loan statements and contact your spouse’s employer to get information about his or her 401k and stock accounts.
How can a Hudson County divorce attorney help you?
While you are by no means required by state law to engage the services of a legal representative, you would be well advised to reach out to one of our skilled Hudson County family law attorneys to discuss your next steps. Hiding assets is more than a petty nuisance, it is a crime. Our firm has the resources, either in-house or through hired professionals, to explore files on a jointly-owned computer, request relevant records, obtain financial statements and search for inconsistencies in financial information. We will help uncover hidden assets, undervalued assets, misstatements of income and anything else. Do not let your former spouse exploit your ignorance. Let us fight back on your behalf. Give us a call today.
Contact our Firm
We understand how emotional and difficult matters of family law can be. If you need the assistance of a knowledgeable attorney to help protect your right to your family, please do not hesitate to contact our experienced firm. We are eager and dedicated to helping you through this difficult time. Our personal injury specialists at Greenberg & Walden, LLC are standing by for a free initial consultation. Call us at 201-528-6928
