Ocean County Divorce Attorney Explains How You Can Find Hidden Assets

Find Hidden AssetsOne of the most difficult aspects of a divorce proceeding is ascertaining the nature of any and all assets on behalf of the spouse who is not involved with the finances during the course of the marriage.  Often times the non-wage earning spouse has the responsibility to care for the children and may not be aware of the extent and nature of all of the financial assets that have been accumulated during the marriage.  In order to best represent your interests, your divorce attorney should be provided with a listing of any and all of your assets at the time he or she is retained.  The following documentation may be helpful for you to gather prior to scheduling your initial consultation with a divorce attorney:

  1. Copies of your personal income tax returns: Tax returns may denote additional sources of income, such as interest or dividends, restricted stock, partnership, real estate holdings, etc.;
  2. Corporate tax returns: If your spouse is a partner in a closely held corporation (family owned) he or she may be able to manipulate his or her salary by taking loans from the corporation or charging personal expenses to corporate accounts.  The corporate tax returns can reveal vital information.;
  3. Any documentation relative to any loans that were granted to your spouse from lending institutions in prior years that required the completion of sworn financial statements. Example of such documentations would be a mortgage loan application or an automobile purchase application.;
  4. Brokerage account statements: If your spouse is buying or selling stock, the broker who holds the account typically provides monthly or quarterly statements.  An example of various brokerage institutions would be Charles Schwab, Merrill Lynch, Scottrade, Wells Fargo etc.;
  5. Children’s bank account: Often a spouse who is contemplating a divorce proceeding will attempt to divert marital funds by placing funds in accounts in the children’s names.  The records for these accounts will provide proof as to the timeframe within which any monies have been deposited or withdrawn from the account(s).;
  6. Check registers from personal and/or corporate accounts: The canceled checks or check registers will provide vital information to your divorce attorney in assisting him or her as to what the marital lifestyle was, i.e. what it cost on a monthly basis to pay all the bills associated with the marital home and all expenditures on behalf of the family.

In addition to the above, there are other methods to find hidden assets. Those measures include, but are not limited to, the issuance of subpoenas, taking depositions of coworkers or superior officers in your spouse’s company, and/or retaining a forensic accountant who specializes in finding hidden assets to assist in the investigation, if need be.

Speak to an Experienced NJ Divorce Lawyer About How to Find Hidden Assets in Your Divorce

In the event that you think your spouse may be hiding assets, it is imperative that you prepare your divorce strategy appropriately.  It is recommended that you retain the services of a Certified Matrimonial Attorney.  Partner, Vincent C. DeLuca is a Certified Matrimonial Attorney in the State of New Jersey and he offers free initial consultations.  Please call (732) 965-3350 to schedule your free consultation.