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Financial fraud in divorce proceedings in New Jersey

Although financial fraud is not a common issue in divorces, if someone seeing a lot of red flags, such as the other spouse being vague or evasive about income or assets, it may be a good idea to have a forensic accountant take a look at the situation. While a spouse may not be trying to hide income from the government, it could represent an attempt to keep the other spouse from receiving a fair share of marital assets.

Hiding assets is generally easier for individuals who have complex financial and investment structures in place because it is harder to see where money is going. For example, if someone has a retirement account and stock options through their employer, it can make it easier for that person to also funnel some of their money into an account the other spouse is unaware of.

A forensic accountant can look at a complete history of someone's income and where their money is going. Investigators are able to review everything from someone's income to tax returns to bank deposits. This can help investigators determine if some of the money that an individual is receiving is not being accounted for.

Even if a couple is being completely honest with each other in regards to their finances, the property division portion of a divorce can still be a very complex undertaking. It is not uncommon for couples to need to have certain assets appraised. A family law attorney who is representing a divorcing spouse can often enlist the assistance of financial professionals to accomplish these and other tasks.

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