After your divorce is finalized, this may be the first time in a long time in which you are financially independent. With this, you must be secure in what is designated to you in equitable distribution. But there is the possibility that your former spouse participated in some form of fraudulent activity, which caused an unfair division of assets. Continue reading to learn the common signs of financial fraud in a divorce and how an experienced Bergen County equitable distribution attorney at McNerney & McAuliffe can help you detect this.
What are the most common signs of financial fraud in a divorce?
Firstly, the New Jersey family court will conduct a practice of dividing up assets known as equitable distribution. With this, they will account for all of your and your former spouse’s marital assets and distribute them in a way they deem fair and just. Notice that “fair and just” does not necessarily mean “equal.” What’s more, the New Jersey family court will also assess your and your former spouse’s net incomes, earning capacities, and overall financial backgrounds to make decisions on a spousal support agreement and a child support agreement.
Though, you may be wary that your former spouse is hiding money or financial information during your divorce proceedings. The most common signs of financial fraud that you must look out for are as follows:
- Your former spouse has recently restricted your access to your shared bank accounts and bank statements without a reasonable explanation.
- Your former spouse has recently made questionable transactions without a reasonable explanation.
- Your former spouse has recently made lots of cash transactions without a reasonable explanation.
- Your former spouse has recently coerced you into signing legal documents without reasonably explaining what they are or allowing you to read them.
- You notice that your former spouse has separate bank accounts or credit cards that you never knew about before.
- You notice that your valuable assets have disappeared without a reasonable explanation as to where they went.
What should I do if I suspect my former spouse of fraudulent activity?
If you have an undeniable suspicion that your former spouse is participating in fraudulent activity, then you must address this in your divorce proceedings. A common practice is to hire a forensic accountant. The role of a forensic accountant is to investigate any financial discrepancies in the personal and business finances your former spouse has disclosed to the New Jersey family court. And if they detect any issues, your former spouse may even be facing criminal consequences.
In addition to a forensic accountant, it should go without saying that you must consult with a skilled Bergen County family law attorney. Give us a call whenever you can.