Locating Hidden Marital Assets in Divorce

One of the greatest concerns to individuals who are divorcing or contemplating divorce is the possibility that their spouse is hiding or dissipating assets.  While such conduct may be the exception rather than the rule such actions on the part of one spouse can have extreme financial consequences to the detriment of the other.

In those cases where there is a basis for suspicion, as experienced matrimonial attorneys we at Lindabury can take the initial steps to investigate whether a spouse is attempting to hide marital assets.  In those divorces were the suspicion is confirmed, we may recommend the use of a forensic accountant, investigative expert, or an “IT” (information technology) professional to discover the extent to which this conduct has occurred.  Lindabury’s Family Law Group has decades of experience advocating on behalf of clients involved in contentious divorces.

KNOW THE SIGNS:  Hiding marital assets can be an attempt by one spouse to gain the upper hand in a divorce.  Some of the more common signs are regular and consistent withdrawal of cash from a checking account or at an ATM, unexplained travel expenses, payments to unknown parties or friends or relatives for no plausible reason and the payment of debt for reasons of which you are unfamiliar or unaware.

When a divorcing spouse senses that the hiding or dissipating of assets is occurring, it is important to obtain copies of any and all financial records and documents.  Such documents often disappear or are destroyed soon after attorneys are engaged and can sometimes be difficult or expensive to obtain from their original source.  Bank account statements (checking or savings), brokerage statements and tax returns can indicate to an attorney or forensic accountant whether or not assets are being unfairly depleted.

The use of electronic discovery has made it significantly easier to uncover this type of covert behavior by a spouse.  But be aware that there are proper and improper methods to obtaining electronic information.  While it is permissible to conduct Internet searches and review the public social media sites of spouses, it is illegal to “hack” into a spouse’s password-protected bank account, social media page or other similar account or page.  There can be criminal penalties for doing so.  Moreover, a spouse would lose all credibility before the Court if they attempted to introduce evidence consisting of illegally obtained information.  It is best to obtain this information after consultation with an attorney and/or through the use of an IT professional.

Lindabury’s Family Law Group has decades of experience representing clients in divorce and other serious New Jersey family law matters.  We provide the full range of divorce and family law services and are easily accessible from our Westfield New Jersey office.