Is it Illegal to Hide Assets from a Divorce in New Jersey?

Divorce is always complicated. One of the most complicated facets of a divorce is splitting up financial assets, especially if a couple doesn’t have a pre or postnuptial agreement in place. Unfortunately, many spouses will make the process even more complicated by trying to hide or conceal assets from their spouses. Please continue reading and reach out to an experienced Bergen County divorce lawyer from Aronsohn, Weiner, Salerno & Kaufman, P.C. today to learn more.

How do people most often try to hide assets during the divorce process?

There are various ways in which one spouse may try to conceal assets from the other. Fortunately, with a competent legal team and other experienced financial experts in your corner, you have a chance at uncovering these assets. Just some of the most common ways spouses will try to hide assets during a divorce can include handing certain assets off to friends or family members, waiting to collect bonuses or invoices until the conclusion of a divorce, or even intentionally overpaying the IRS.

Is it illegal to hide assets from one spouse during a divorce in New Jersey?

Yes, it is. Spouses are required, by law, to fully disclose each of their assets so courts can accurately value them and distribute them equitably between spouses in a divorce. When a spouse is found to have hidden assets during a divorce, they will most likely face very severe penalties. Judges may impose fines or even sanctions against a spouse who is found to have hidden assets, and often, the other spouse will be entitled to a greater portion of assets in the divorce as a result.

The bottom line is that if you believe your spouse is hiding assets, the most important thing you can do is reach out to our Bergen County family lawyers at once. We can help uncover these assets and fight for what’s rightfully yours. Don’t wait–pick up the phone and give us a call today.

Contact our experienced New Jersey firm

We understand how confusing certain legal issues can be, which is why we are dedicated to providing individuals with the compassionate and knowledgeable legal representation they deserve. Aronsohn, Weiner, Salerno & Kaufman has helped clients with various difficult legal challenges for over 40 years. We know we have the experience needed to do the same for you. For experienced legal counsel regarding family law, litigation, business law, real estate, and criminal law, you know where to turn–contact Aronsohn, Weiner, Salerno & Kaufman today to schedule a consultation.

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