Nassau County Undisclosed Assets Lawyers
Uncover Assets Hidden by Your Spouse
New York state law requires that in any marital action where there is a potential issue of alimony, maintenance or support that both parties are subject to compulsory disclosure of their finances and assets. The law is fairly expansive in what it requires to be disclosed. Many of our clients are surprised to learn how common it is for spouses to hide assets from one another. According to the National Endowment for Financial Education, 31 percent of U.S. adults who comingle assets with their spouse or partner admit to being deceptive about money.
In a press release by the NEFE, the study discovered that:
- 58 percent hid cash from their spouse or partner.
- 54 percent hid minor purchases from their spouse or partner.
- 30 percent said they hid a statement or bill from their spouse or partner.
- 34 percent said they had lied about income, debt, or finances.
The reason for this compulsory disclosure is so both estranged parties and the court have an accurate basis upon which to arrive at a final divorce decision. A knowledgeable lawyer will help you to ensure that there aren’t any hidden or undisclosed assets which could potentially render your final divorce judgment patently unfair.
How To Make Your Spouse Disclose All in a Divorce
There are many ways to smoke out these hidden assets, which include tactics such as requesting for examination:
- Tax returns
- Credit card records
- Any loan applications or documents—these often require detailed financial information
- Business agreements or contracts
- Employment Agreements
- Receipts
- Title agreements
- Assets searches
- Private Investigators
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