What impact could hidden bank accounts have on a divorce? 

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Some people facing a high-asset divorce will hire a forensic accountant to look for signs of a hidden bank account or other hidden assets. Although such investigatory efforts may seem unnecessary at first, they could actually return significant dividends.

There is a lot at risk for a spouse worried about their ex’s misconduct during a New Jersey divorce. How could undisclosed bank accounts or other hidden assets owned by your spouse impact your divorce?

If you don’t find them, they put you at a disadvantage

You and your spouse are subject to certain rules during your divorce. You should both provide accurate information about your finances and personal property to one another and to the courts. 

If your ex does not report certain bank accounts, hides certain physical possessions or intentionally under-values their personal property, the result could be that you don’t receive your fair share of the marital estate. You can’t ask for your portion of the shared value in an asset that you don’t even know exists.

If you do find them, they can alter the ruling

Tracking down hidden assets during your divorce will have two primary consequences. The first is that it forces the court to consider those previously hidden assets as part of the marital estate when dividing your property and debts. 

The second is that it alerts the court to your spouse’s attempts at financial misconduct. In extreme cases, finding significant hidden assets even after a divorce could lead to a successful appeal and adjustments to your property division order. Learning more about the rules involved in a New Jersey divorce can help you plan ahead for this sometimes challenging process.

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